LRT Capital Management LLC Invests $3.75 Million in Primerica, Inc. (NYSE:PRI)

LRT Capital Management LLC acquired a new position in Primerica, Inc. (NYSE:PRI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,800 shares of the financial services provider’s stock, valued at approximately $3,746,000. Primerica makes up approximately 2.9% of LRT Capital Management LLC’s investment portfolio, making the stock its 5th largest holding.

Several other large investors have also made changes to their positions in the business. Mariner LLC increased its position in Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 36 shares during the last quarter. Dana Investment Advisors Inc. grew its position in shares of Primerica by 1.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 45 shares in the last quarter. CIBC Asset Management Inc increased its position in Primerica by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 54 shares during the period. Assetmark Inc. raised its stake in Primerica by 3.9% in the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock worth $412,000 after buying an additional 57 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its position in shares of Primerica by 2.5% in the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 65 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Trading Down 1.3%

Shares of PRI opened at $268.55 on Monday. The firm has a market cap of $8.89 billion, a P/E ratio of 19.53 and a beta of 1.02. The company’s 50-day moving average price is $269.75 and its 200 day moving average price is $280.16. Primerica, Inc. has a 12-month low of $219.52 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.25. The firm had revenue of $803.56 million for the quarter, compared to the consensus estimate of $783.54 million. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 EPS. Equities research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.55%. Primerica’s dividend payout ratio (DPR) is 30.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley reduced their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Primerica currently has a consensus rating of “Hold” and a consensus price target of $309.14.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’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 transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now directly owns 200 shares in the company, valued at $56,030. The trade was a 53.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

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.