Primerica, Inc. $PRI Stock Position Increased by R Squared Ltd

R Squared Ltd increased its position in shares of Primerica, Inc. (NYSE:PRI) by 76.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,438 shares of the financial services provider’s stock after acquiring an additional 1,058 shares during the period. R Squared Ltd’s holdings in Primerica were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Primerica in the 1st quarter worth approximately $156,019,000. AQR Capital Management LLC boosted its stake in shares of Primerica by 171.8% during the 1st quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider’s stock worth $89,907,000 after acquiring an additional 199,715 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Primerica in the 2nd quarter worth $27,425,000. Vanguard Group Inc. raised its position in shares of Primerica by 1.1% during the first quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after purchasing an additional 37,994 shares during the period. Finally, Westfield Capital Management Co. LP boosted its position in shares of Primerica by 15.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 276,225 shares of the financial services provider’s stock valued at $78,594,000 after purchasing an additional 36,095 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRI has been the topic of several analyst reports. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Piper Sandler set a $292.00 price objective on Primerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Primerica in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Primerica currently has a consensus rating of “Moderate Buy” and an average target price of $314.86.

Primerica Stock Down 0.2%

Shares of NYSE:PRI opened at $264.84 on Friday. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 13.09 and a beta of 0.97. The business has a 50 day moving average price of $270.45 and a 200 day moving average price of $266.67. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The company had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period in the previous year, the company earned $4.71 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 22nd. Primerica’s dividend payout ratio (DPR) is presently 20.55%.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by corporate insiders.

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.