Brandywine Global Investment Management LLC Acquires 497 Shares of Primerica, Inc. (NYSE:PRI)

Brandywine Global Investment Management LLC lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 27,490 shares of the financial services provider’s stock after purchasing an additional 497 shares during the period. Brandywine Global Investment Management LLC owned 0.08% of Primerica worth $7,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the last quarter. Barclays PLC lifted its position in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 10,635 shares during the period. Sylvest Advisors LLC bought a new position in shares of Primerica in the 4th quarter valued at about $543,000. Oak Thistle LLC boosted its stake in shares of Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 1,943 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after buying an additional 11,612 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. BMO Capital Markets began coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. 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, the stock currently has an average rating of “Hold” and a consensus price target of $309.86.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 in the last 90 days. 0.85% of the stock is currently owned by company insiders.

Primerica Price Performance

NYSE PRI opened at $284.74 on Tuesday. The stock’s 50-day moving average is $286.22 and its 200-day moving average is $282.19. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The firm has a market cap of $9.47 billion, a P/E ratio of 20.71 and a beta of 1.12.

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

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 30.25%.

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.