New York Life Investment Management LLC Acquires 248 Shares of Primerica, Inc. (NYSE:PRI)

New York Life Investment Management LLC lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,092 shares of the financial services provider’s stock after purchasing an additional 248 shares during the quarter. New York Life Investment Management LLC’s holdings in Primerica were worth $842,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Invesco Ltd. grew its stake in Primerica by 110.6% in the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after buying an additional 236,051 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Primerica by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,340 shares of the financial services provider’s stock worth $64,477,000 after acquiring an additional 3,066 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Primerica by 86.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock worth $23,010,000 after acquiring an additional 55,076 shares during the last quarter. Natixis Advisors L.P. grew its position in Primerica by 0.3% in the third quarter. Natixis Advisors L.P. now owns 115,839 shares of the financial services provider’s stock worth $22,474,000 after acquiring an additional 303 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Primerica by 44.1% in the third quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock valued at $16,479,000 after acquiring an additional 25,981 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insider Activity at Primerica

In other news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the sale, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a filing with the SEC, which is available through this link. In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the transaction, the director now directly owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the sale, the president now directly owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock worth $1,648,677 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Primerica Price Performance

Shares of Primerica stock opened at $218.10 on Thursday. The stock has a market capitalization of $7.57 billion, a P/E ratio of 13.27 and a beta of 1.10. Primerica, Inc. has a one year low of $176.81 and a one year high of $256.56. The business’s 50 day simple moving average is $236.05 and its two-hundred day simple moving average is $223.44.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The firm had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.49 earnings per share. Sell-side analysts expect that Primerica, Inc. will post 17.78 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. Primerica’s payout ratio is presently 18.26%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PRI. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Truist Financial increased their target price on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $245.50.

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.