Primerica, Inc. $PRI Shares Purchased by Vest Financial LLC

Vest Financial LLC raised its stake in Primerica, Inc. (NYSE:PRI) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,866 shares of the financial services provider’s stock after acquiring an additional 3,226 shares during the period. Vest Financial LLC’s holdings in Primerica were worth $5,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in shares of Primerica in the 3rd quarter valued at about $27,000. Smartleaf Asset Management LLC increased its position in Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares during the period. V Square Quantitative Management LLC acquired a new position in Primerica during the fourth quarter worth approximately $30,000. Quent Capital LLC purchased a new stake in Primerica in the third quarter valued at approximately $33,000. Finally, Torren Management LLC acquired a new stake in shares of Primerica in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This represents a 8.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the sale, the president directly owned 11,611 shares in the company, valued at $2,930,384.18. This represents a 13.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $290.00 price target on shares of Primerica in a report on Thursday, March 26th. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Morgan Stanley cut their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $293.60.

Primerica Price Performance

Shares of NYSE PRI opened at $280.69 on Wednesday. The company has a 50-day simple moving average of $259.58 and a 200-day simple moving average of $259.89. The company has a market cap of $8.89 billion, a PE ratio of 12.24 and a beta of 0.90. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $288.03.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The firm had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same period in the prior year, the firm posted $5.03 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Primerica, Inc. will post 23.84 EPS for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is currently 20.93%.

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.