Primerica, Inc. (NYSE:PRI) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Primerica, Inc. (NYSE:PRI) by 37.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,161 shares of the financial services provider’s stock after acquiring an additional 2,494 shares during the period. Van ECK Associates Corp’s holdings in Primerica were worth $1,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in Primerica by 110.6% during the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after purchasing an additional 236,051 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Primerica by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,340 shares of the financial services provider’s stock worth $64,477,000 after acquiring an additional 3,066 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Primerica by 86.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after purchasing an additional 55,076 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of Primerica by 0.3% in the 3rd quarter. Natixis Advisors L.P. now owns 115,839 shares of the financial services provider’s stock valued at $22,474,000 after purchasing an additional 303 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Primerica by 44.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock worth $16,479,000 after purchasing an additional 25,981 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the transaction, the director now owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the transaction, the director now owns 16,467 shares in the company, valued at $4,100,283. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,708 shares of company stock valued at $1,648,677. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PRI shares. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley increased their price target on shares of Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Truist Financial boosted their price objective on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and an average price target of $245.50.

Primerica Stock Down 0.5 %

Shares of NYSE PRI opened at $218.10 on Thursday. The business has a 50-day moving average price of $236.05 and a 200 day moving average price of $223.44. The stock has a market cap of $7.57 billion, a PE ratio of 13.27 and a beta of 1.10. Primerica, Inc. has a 52-week low of $176.81 and a 52-week high of $256.56.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). The firm had revenue of $742.83 million during the quarter, compared to analyst estimates of $740.57 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. Primerica’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 earnings per share. Sell-side analysts anticipate that Primerica, Inc. will post 17.78 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.38%. Primerica’s dividend payout ratio is presently 18.26%.

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.