Primerica, Inc. (NYSE:PRI) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in shares of Primerica, Inc. (NYSE:PRI) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,011 shares of the financial services provider’s stock after buying an additional 11,612 shares during the period. Los Angeles Capital Management LLC owned 0.36% of Primerica worth $32,573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in Primerica by 7.1% during the fourth quarter. IFP Advisors Inc now owns 1,164 shares of the financial services provider’s stock worth $316,000 after buying an additional 77 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Primerica by 75.2% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 4,383 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 1,882 shares during the last quarter. JLB & Associates Inc. boosted its stake in Primerica by 4.7% during the fourth quarter. JLB & Associates Inc. now owns 19,762 shares of the financial services provider’s stock worth $5,364,000 after buying an additional 883 shares during the last quarter. Ieq Capital LLC acquired a new position in Primerica during the fourth quarter worth $1,441,000. Finally, Atria Wealth Solutions Inc. boosted its stake in Primerica by 41.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,148 shares of the financial services provider’s stock worth $312,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Up 0.6 %

PRI stock opened at $276.81 on Wednesday. The company has a market capitalization of $9.24 billion, a PE ratio of 20.13 and a beta of 1.11. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The business’s fifty day moving average price is $281.70 and its 200 day moving average price is $277.65.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica announced that its Board of Directors has authorized a stock buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 30.25%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

PRI has been the topic of a number of recent research reports. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. Truist Financial upped their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen upped their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley upped their price target on Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $311.14.

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.