MQS Management LLC Buys New Position in Primerica, Inc. (NYSE:PRI)

MQS Management LLC purchased a new position in Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,572 shares of the financial services provider’s stock, valued at approximately $417,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blair William & Co. IL raised its holdings in Primerica by 24.5% in the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock worth $3,076,000 after purchasing an additional 2,393 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Primerica by 456.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after buying an additional 7,506 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Primerica during the 1st quarter valued at about $979,000. Susquehanna Fundamental Investments LLC purchased a new stake in Primerica in the 2nd quarter worth approximately $3,514,000. Finally, SG Americas Securities LLC bought a new stake in Primerica during the 2nd quarter worth approximately $893,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 0.8 %

PRI stock opened at $300.18 on Thursday. The company has a fifty day simple moving average of $271.23 and a two-hundred day simple moving average of $249.88. The firm has a market capitalization of $10.02 billion, a P/E ratio of 22.93 and a beta of 1.08. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $304.84.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.28 earnings per share. As a group, analysts anticipate that Primerica, Inc. will post 19.12 EPS for the current year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Wall Street Analyst Weigh In

PRI has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and an average price target of $288.33.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,500 shares of company stock worth $1,803,175. 0.85% of the stock is currently owned by insiders.

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.