Primerica, Inc. (NYSE:PRI) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC boosted its holdings in Primerica, Inc. (NYSE:PRI) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 113,462 shares of the financial services provider’s stock after buying an additional 222 shares during the quarter. Natixis Advisors LLC’s holdings in Primerica were worth $26,843,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PRI. Van ECK Associates Corp grew its stake in shares of Primerica by 36.5% in the first quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock valued at $3,164,000 after buying an additional 3,345 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Primerica by 24.5% in the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after buying an additional 2,393 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Primerica by 456.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after buying an additional 7,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Primerica by 136.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 3,649 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Primerica in the first quarter valued at about $979,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of PRI opened at $263.23 on Tuesday. The stock has a 50-day moving average price of $248.10 and a 200 day moving average price of $238.95. Primerica, Inc. has a one year low of $184.76 and a one year high of $265.27. The company has a market capitalization of $9.06 billion, a P/E ratio of 16.02 and a beta of 1.09.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. During the same quarter last year, the business posted $3.99 EPS. Primerica’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts forecast that Primerica, Inc. will post 17.92 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is currently 21.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on Primerica in a research note on Friday. They issued a “neutral” rating and a $283.00 target price for the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $275.20.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $1,817,595 in the last quarter. Insiders own 0.85% of the company’s stock.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.