Primerica, Inc. $PRI Position Boosted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in Primerica, Inc. (NYSE:PRI) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,329 shares of the financial services provider’s stock after purchasing an additional 2,525 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Primerica were worth $170,248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PRI. American Century Companies Inc. grew its position in Primerica by 10.2% in the third quarter. American Century Companies Inc. now owns 121,116 shares of the financial services provider’s stock worth $33,621,000 after buying an additional 11,183 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Primerica by 2.6% in the third quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock valued at $71,278,000 after buying an additional 6,623 shares in the last quarter. US Bancorp DE lifted its position in shares of Primerica by 15.1% during the 3rd quarter. US Bancorp DE now owns 741 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 97 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Primerica by 9.2% during the 3rd quarter. TD Asset Management Inc now owns 6,662 shares of the financial services provider’s stock worth $1,849,000 after acquiring an additional 559 shares in the last quarter. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Primerica by 3.9% during the 3rd quarter. Dana Investment Advisors Inc. now owns 3,723 shares of the financial services provider’s stock worth $1,033,000 after acquiring an additional 141 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Finally, Morgan Stanley decreased their target price on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $298.60.

Primerica Stock Down 1.7%

PRI opened at $252.93 on Tuesday. The firm has a market capitalization of $8.01 billion, a P/E ratio of 11.03 and a beta of 0.92. The stock has a fifty day moving average of $260.53 and a 200-day moving average of $262.99. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $296.00.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. Primerica had a return on equity of 32.30% and a net margin of 22.82%.Primerica’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.03 earnings per share. On average, analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica announced that its board has approved a stock repurchase program on Wednesday, November 19th that authorizes the company to buyback $475.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be paid a dividend of $1.20 per share. This is a boost from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $4.80 annualized dividend and a yield of 1.9%. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

About Primerica

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.