Dorsey Wright & Associates Purchases New Stake in Primerica, Inc. $PRI

Dorsey Wright & Associates acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,243 shares of the financial services provider’s stock, valued at approximately $3,624,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PRI. Vanguard Group Inc. lifted its position in shares of Primerica by 1.1% during the first quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after purchasing an additional 37,994 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in Primerica by 1.7% during the first quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider’s stock valued at $372,740,000 after buying an additional 21,546 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Primerica by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider’s stock worth $173,963,000 after buying an additional 16,350 shares during the last quarter. Nuveen LLC bought a new position in Primerica during the 1st quarter worth approximately $156,019,000. Finally, Fiduciary Management Inc. WI grew its position in shares of Primerica by 2.8% in the 1st quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider’s stock worth $139,682,000 after acquiring an additional 13,402 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

PRI has been the topic of several research reports. Piper Sandler set a $292.00 price target on Primerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Primerica in a report on Wednesday, October 8th. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $292.00 to $318.00 in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Primerica currently has an average rating of “Moderate Buy” and a consensus target price of $309.00.

Primerica Stock Performance

Primerica stock opened at $258.37 on Wednesday. The company has a 50-day simple moving average of $266.65 and a 200-day simple moving average of $267.06. The firm has a market capitalization of $8.25 billion, a P/E ratio of 11.87 and a beta of 0.96. Primerica, Inc. has a one year low of $230.98 and a one year high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The firm had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. During the same period last year, the firm posted $4.83 EPS. Primerica’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 21st. Primerica’s dividend payout ratio is 19.12%.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total value of $510,600.00. Following the sale, the president directly owned 7,301 shares in the company, valued at $1,863,945.30. This trade represents a 21.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total value of $649,125.00. Following the transaction, the chief executive officer owned 33,892 shares of the company’s stock, valued at $8,800,057.80. This trade represents a 6.87% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is owned by company insiders.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.