Bamco Inc. NY Has $292.60 Million Stake in Primerica, Inc. $PRI

Bamco Inc. NY cut its position in shares of Primerica, Inc. (NYSE:PRI) by 19.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,132,544 shares of the financial services provider’s stock after selling 275,697 shares during the period. Primerica accounts for 0.8% of Bamco Inc. NY’s portfolio, making the stock its 21st largest holding. Bamco Inc. NY owned 3.55% of Primerica worth $292,604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Align Financial LLC bought a new stake in shares of Primerica in the 4th quarter valued at about $7,943,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of Primerica by 65.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 36,413 shares of the financial services provider’s stock valued at $9,408,000 after purchasing an additional 14,423 shares during the period. Trexquant Investment LP raised its holdings in shares of Primerica by 480.3% in the 4th quarter. Trexquant Investment LP now owns 24,998 shares of the financial services provider’s stock valued at $6,458,000 after purchasing an additional 20,690 shares during the period. Amundi raised its holdings in shares of Primerica by 65.9% in the 4th quarter. Amundi now owns 29,694 shares of the financial services provider’s stock valued at $7,672,000 after purchasing an additional 11,790 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Primerica by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 147,811 shares of the financial services provider’s stock valued at $38,189,000 after purchasing an additional 1,291 shares during the period. 90.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Primerica Stock Performance

PRI stock opened at $281.72 on Thursday. The company’s 50-day simple moving average is $273.44 and its 200 day simple moving average is $263.16. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $288.03. The company has a market capitalization of $8.78 billion, a PE ratio of 11.81 and a beta of 0.88.

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

Primerica Dividend Announcement

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

Insider Activity

In related news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the sale, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

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.