Brandywine Global Investment Management LLC Acquires 13,072 Shares of Primerica, Inc. $PRI

Brandywine Global Investment Management LLC lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 29.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,791 shares of the financial services provider’s stock after purchasing an additional 13,072 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.18% of Primerica worth $15,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC bought a new stake in Primerica in the first quarter worth $156,019,000. AQR Capital Management LLC lifted its position in shares of Primerica by 171.8% in the first quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider’s stock worth $89,907,000 after buying an additional 199,715 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Primerica during the 2nd quarter worth about $27,425,000. Vanguard Group Inc. boosted its stake in shares of Primerica by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after acquiring an additional 37,994 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake 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 acquiring an additional 36,095 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $255.30, for a total value of $510,600.00. Following the transaction, the president directly owned 7,301 shares in the company, valued at $1,863,945.30. The trade was a 21.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total transaction of $649,125.00. Following the sale, the chief executive officer directly owned 33,892 shares of the company’s stock, valued at approximately $8,800,057.80. The trade was a 6.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PRI has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley reduced their price objective on Primerica from $306.00 to $301.00 and set an “equal weight” rating for the company in a research report on Monday, November 17th. Finally, Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $309.00.

Primerica Trading Up 0.5%

NYSE PRI opened at $262.79 on Friday. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 12.08 and a beta of 0.96. The stock’s 50 day moving average is $265.90 and its two-hundred day moving average is $266.95.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping the consensus estimate of $5.52 by $0.81. The business had revenue of $838.88 million during the quarter, compared to the consensus estimate of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.Primerica’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $4.83 EPS. On average, analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica announced that its board has approved a share buyback program on Wednesday, November 19th that allows the company to buyback $475.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, November 21st. Primerica’s payout ratio is currently 19.12%.

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.