Primerica, Inc. $PRI Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its stake in Primerica, Inc. (NYSE:PRI) by 64.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,179 shares of the financial services provider’s stock after selling 34,536 shares during the period. Brandywine Global Investment Management LLC’s holdings in Primerica were worth $4,955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Primerica in the 4th quarter valued at approximately $30,000. Torren Management LLC purchased a new stake in Primerica in the 4th quarter valued at approximately $50,000. Hantz Financial Services Inc. lifted its stake in Primerica by 620.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock valued at $60,000 after buying an additional 186 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Primerica in the 4th quarter valued at approximately $67,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $297.80.

Primerica Stock Up 2.0%

PRI stock opened at $277.23 on Thursday. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 11.62 and a beta of 0.88. The business has a fifty day simple moving average of $270.61 and a 200-day simple moving average of $262.40. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $288.03.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $5.02 EPS. As a group, analysts expect that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, May 21st. Primerica’s dividend payout ratio is presently 20.13%.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.