State of New Jersey Common Pension Fund D Purchases 69 Shares of Primerica, Inc. $PRI

State of New Jersey Common Pension Fund D lifted its stake in Primerica, Inc. (NYSE:PRI) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,568 shares of the financial services provider’s stock after purchasing an additional 69 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Primerica were worth $2,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. HB Wealth Management LLC boosted its position in shares of Primerica by 1.9% in the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 38 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in shares of Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 42 shares in the last quarter. Xponance Inc. boosted its position in shares of Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 47 shares in the last quarter. Ascent Group LLC lifted its position in Primerica by 7.4% in the 2nd quarter. Ascent Group LLC now owns 785 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 54 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Primerica by 15.3% in the 1st quarter. TD Private Client Wealth LLC now owns 421 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 56 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRI. Keefe, Bruyette & Woods upped their price objective on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Monday, August 11th. Piper Sandler set a $292.00 target price on shares of Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Zacks Research upgraded Primerica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primerica in a report on Wednesday, October 8th. Finally, Morgan Stanley dropped their target price on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Primerica currently has an average rating of “Moderate Buy” and a consensus target price of $314.86.

Primerica Price Performance

Primerica stock opened at $262.29 on Wednesday. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The firm has a market capitalization of $8.50 billion, a P/E ratio of 12.96 and a beta of 0.97. The company’s 50-day moving average is $270.42 and its 200 day moving average is $267.10.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. During the same period in the prior year, the company posted $4.71 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is 20.55%.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Primerica Profile

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.