Boston Partners Invests $352,000 in Primerica, Inc. $PRI

Boston Partners bought a new stake in Primerica, Inc. (NYSE:PRI) during the second quarter, HoldingsChannel reports. The institutional investor bought 1,290 shares of the financial services provider’s stock, valued at approximately $352,000.

Other hedge funds also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in shares of Primerica in the second quarter worth $31,000. Cullen Frost Bankers Inc. purchased a new stake in Primerica during the 2nd quarter worth about $33,000. First Horizon Advisors Inc. raised its stake in Primerica by 1,714.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. AdvisorNet Financial Inc raised its stake in Primerica by 108.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 161 shares in the last quarter. 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 on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total value of $649,125.00. Following the completion of the sale, the chief executive officer owned 33,892 shares of the company’s stock, valued at $8,800,057.80. This represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings restated a “buy (b)” rating on shares of Primerica in a report on Wednesday, October 8th. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. BMO Capital Markets upgraded Primerica from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Finally, Morgan Stanley lowered their price target on Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.83.

Primerica Trading Down 0.0%

Shares of Primerica stock opened at $253.97 on Monday. The business’s fifty day moving average price is $267.33 and its 200 day moving average price is $267.13. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91. The stock has a market capitalization of $8.11 billion, a P/E ratio of 11.67 and a beta of 0.96.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.52 by $0.81. The company had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $4.83 EPS. As a group, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 21st. Primerica’s payout ratio is 19.12%.

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.