R Squared Ltd Acquires 1,058 Shares of Primerica, Inc. $PRI

R Squared Ltd increased its holdings in Primerica, Inc. (NYSE:PRI) by 76.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,438 shares of the financial services provider’s stock after purchasing an additional 1,058 shares during the period. R Squared Ltd’s holdings in Primerica were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PRI. First Citizens Bank & Trust Co. raised its holdings in shares of Primerica by 70.2% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,016 shares of the financial services provider’s stock worth $1,920,000 after buying an additional 2,895 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Primerica during the second quarter valued at $33,000. Klingman & Associates LLC acquired a new stake in shares of Primerica in the 2nd quarter valued at $362,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Primerica in the 2nd quarter valued at $1,498,000. Finally, Mutual of America Capital Management LLC increased its position in shares of Primerica by 1.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 37,757 shares of the financial services provider’s stock worth $10,333,000 after purchasing an additional 623 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Trading Down 0.2%

Shares of NYSE PRI opened at $264.84 on Friday. The firm has a market capitalization of $8.58 billion, a PE ratio of 13.09 and a beta of 0.97. The firm’s 50-day moving average is $270.45 and its 200-day moving average is $266.67. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.28. The firm had revenue of $796.02 million for the quarter, compared to analysts’ expectations of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.71 earnings per share. As a group, equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 22nd were issued a dividend of $1.04 per share. The ex-dividend date was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica’s dividend payout ratio (DPR) is 20.55%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PRI shares. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Morgan Stanley cut their price objective on Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Zacks Research upgraded shares of Primerica from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group decreased their price target on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.86.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by company 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.