Brandywine Global Investment Management LLC Sells 34,536 Shares of Primerica, Inc. $PRI

Brandywine Global Investment Management LLC trimmed its stake in Primerica, Inc. (NYSE:PRI) by 64.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,179 shares of the financial services provider’s stock after selling 34,536 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Primerica worth $4,955,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PRI. Smartleaf Asset Management LLC increased its holdings in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 69 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Primerica in the fourth quarter valued at approximately $30,000. Torren Management LLC acquired a new stake in Primerica during the fourth quarter worth $50,000. Hantz Financial Services Inc. increased its stake in Primerica by 620.0% during the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 186 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Primerica during the fourth quarter worth $67,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on PRI. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods lifted their price objective on Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Morgan Stanley lifted their price objective on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Finally, Weiss Ratings raised Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $297.80.

Primerica Trading Up 2.0%

Shares of PRI opened at $277.23 on Thursday. The stock’s 50 day moving average is $270.61 and its two-hundred day moving average is $262.40. The firm has a market capitalization of $8.65 billion, a PE ratio of 11.62 and a beta of 0.88. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $288.03.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.02 EPS. On average, sell-side analysts predict that Primerica, Inc. will post 24.45 EPS for the current year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be issued a $1.20 dividend. The ex-dividend date is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio is currently 20.13%.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the sale, the president owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 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.