Primerica, Inc. $PRI Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Primerica, Inc. (NYSE:PRI) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 793,389 shares of the financial services provider’s stock after purchasing an additional 37,014 shares during the period. Geode Capital Management LLC owned 2.49% of Primerica worth $205,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PRI. Life Cycle Investment Partners Ltd purchased a new stake in shares of Primerica during the fourth quarter worth $40,714,000. Danske Bank A S acquired a new stake in Primerica during the third quarter valued at $30,396,000. Arbejdsmarkedets Tillaegspension purchased a new position in Primerica in the fourth quarter valued at about $23,767,000. Alps Advisors Inc. purchased a new position in Primerica in the third quarter valued at about $20,524,000. Finally, AQR Capital Management LLC grew its stake in Primerica by 25.5% in the third quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock valued at $96,089,000 after purchasing an additional 70,510 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Morgan Stanley boosted their target price on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $297.80.

Primerica Trading Down 2.6%

PRI stock opened at $259.76 on Wednesday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The company has a fifty day simple moving average of $268.46 and a 200 day simple moving average of $262.03. The firm has a market cap of $8.10 billion, a PE ratio of 10.89 and a beta of 0.88.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. Primerica’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.02 EPS. As a group, analysts forecast that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Primerica’s payout ratio is currently 20.13%.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by corporate insiders.

Primerica Company 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.