Leeward Investments LLC MA Sells 851 Shares of Primerica, Inc. (NYSE:PRI)

Leeward Investments LLC MA reduced its stake in Primerica, Inc. (NYSE:PRI) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,750 shares of the financial services provider’s stock after selling 851 shares during the period. Primerica accounts for approximately 1.0% of Leeward Investments LLC MA’s holdings, making the stock its 22nd largest holding. Leeward Investments LLC MA owned about 0.30% of Primerica worth $21,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Atria Wealth Solutions Inc. boosted its position in shares of Primerica by 10.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,409 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 130 shares during the last quarter. GAMMA Investing LLC bought a new position in Primerica during the fourth quarter worth about $133,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Primerica by 10.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,166 shares of the financial services provider’s stock worth $1,680,000 after acquiring an additional 764 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Primerica during the fourth quarter worth about $305,000. Finally, Louisiana State Employees Retirement System bought a new position in Primerica during the fourth quarter worth about $2,016,000. 90.88% of the stock is currently owned by institutional investors.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the transaction, the insider now owns 100 shares in the company, valued at $24,981. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the transaction, the president now owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,708 shares of company stock valued at $1,648,677. 0.85% of the stock is owned by insiders.

Primerica Price Performance

PRI opened at $213.41 on Friday. The business’s 50-day moving average price is $240.84 and its two-hundred day moving average price is $222.63. Primerica, Inc. has a 1 year low of $173.00 and a 1 year high of $256.56. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 13.44 and a beta of 1.06.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). The company had revenue of $726.34 million during the quarter, compared to analyst estimates of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. Primerica’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.49 EPS. Sell-side analysts anticipate that Primerica, Inc. will post 17.78 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Primerica’s previous quarterly dividend of $0.65. Primerica’s payout ratio is currently 18.89%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PRI shares. Morgan Stanley lifted their target price on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods lifted their price target on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Truist Financial lifted their price target on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus target price of $245.50.

About Primerica

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.