Westfield Capital Management Co. LP Lowers Position in Primerica, Inc. $PRI

Westfield Capital Management Co. LP lessened its stake in Primerica, Inc. (NYSE:PRI) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 234,597 shares of the financial services provider’s stock after selling 22,177 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Primerica were worth $60,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Primerica in the 4th quarter worth approximately $30,000. Torren Management LLC purchased a new stake in Primerica in the 4th quarter worth approximately $50,000. Hantz Financial Services Inc. boosted its position in Primerica by 620.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 186 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Primerica in the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of NYSE:PRI opened at $266.25 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 11.16 and a beta of 0.88. The business’s 50 day moving average price is $269.29 and its 200-day moving average price is $262.10.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same quarter last year, the firm posted $5.02 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Primerica, Inc. will post 24.45 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be given a dividend of $1.20 per share. The ex-dividend date is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. Primerica’s dividend payout ratio (DPR) is 20.13%.

Analyst Upgrades and Downgrades

Several research firms have commented on PRI. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods upped their price objective on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Primerica has an average rating of “Hold” and an average target price of $297.80.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at $2,743,548.04. This trade represents a 15.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by company insiders.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.