9,300 Shares in Primerica, Inc. $PRI Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Primerica, Inc. (NYSE:PRI) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,300 shares of the financial services provider’s stock, valued at approximately $2,329,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vista Investment Partners II LLC purchased a new stake in Primerica during the 4th quarter valued at $1,685,000. First Trust Advisors LP boosted its stake in shares of Primerica by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after buying an additional 54,158 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Primerica by 1,155.8% in the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 29,578 shares during the last quarter. Prana Capital Management LP grew its holdings in shares of Primerica by 22.8% in the third quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock worth $18,575,000 after acquiring an additional 12,432 shares during the period. Finally, Moran Wealth Management LLC grew its holdings in shares of Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after acquiring an additional 12,881 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of PRI stock opened at $286.62 on Tuesday. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 12.02 and a beta of 0.88. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The firm has a fifty day moving average price of $276.11 and a 200-day moving average price of $264.76.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. During the same period last year, the firm earned $5.02 EPS. Primerica’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that Primerica, Inc. will post 24.45 EPS for the current year.

Primerica Announces Dividend

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

Analyst Ratings Changes

PRI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on 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 research report on Wednesday, May 27th. Finally, Morgan Stanley increased their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $297.80.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the transaction, the chief executive officer directly owned 33,696 shares in the company, valued at $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% 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. 0.63% of the stock is currently owned by company 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.