Louisiana State Employees Retirement System Acquires New Shares in Primerica, Inc. (NYSE:PRI)

Louisiana State Employees Retirement System acquired a new stake in Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,800 shares of the financial services provider’s stock, valued at approximately $2,016,000.

A number of other large investors have also recently added to or reduced their stakes in PRI. Arlington Trust Co LLC acquired a new position in Primerica in the third quarter valued at approximately $25,000. LWM Advisory Services LLC acquired a new position in Primerica during the third quarter worth $26,000. ORG Partners LLC acquired a new position in Primerica during the fourth quarter worth $26,000. Covestor Ltd lifted its stake in Primerica by 74.7% during the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Primerica during the fourth quarter worth $38,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRI has been the topic of a number of research reports. Raymond James cut Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Truist Financial upped their price target on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley increased their price objective on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $245.50.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the transaction, the insider now owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the transaction, the insider now directly owns 100 shares in the company, valued at approximately $24,981. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock valued at $1,648,677 over the last quarter. 0.85% of the stock is owned by insiders.

Primerica Trading Down 1.1 %

Shares of NYSE PRI opened at $211.64 on Thursday. The stock has a market cap of $7.34 billion, a P/E ratio of 13.33 and a beta of 1.06. Primerica, Inc. has a 12-month low of $173.00 and a 12-month high of $256.56. The business’s fifty day simple moving average is $244.21 and its 200-day simple moving average is $221.71.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing the consensus estimate of $4.27 by ($0.02). The business had revenue of $726.34 million during the quarter, compared to analysts’ expectations of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $3.49 EPS. On average, equities analysts forecast that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Tuesday, February 20th. This is a positive change from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio is 18.89%.

Primerica Company 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.