Primerica, Inc. (NYSE:PRI) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its holdings in Primerica, Inc. (NYSE:PRI) by 0.8% during the second quarter, HoldingsChannel reports. The firm owned 3,606,930 shares of the financial services provider’s stock after selling 27,963 shares during the period. Primerica comprises about 2.1% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Kayne Anderson Rudnick Investment Management LLC owned about 0.10% of Primerica worth $853,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Primerica during the fourth quarter worth $31,194,000. Los Angeles Capital Management LLC lifted its stake in shares of Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock worth $23,601,000 after acquiring an additional 39,761 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Primerica in the second quarter valued at about $71,000. Dimensional Fund Advisors LP increased its stake in shares of Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after acquiring an additional 21,836 shares during the period. Finally, Granite Investment Partners LLC purchased a new position in Primerica during the second quarter worth about $4,555,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Down 0.0 %

Shares of NYSE:PRI opened at $258.49 on Friday. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 15.73 and a beta of 1.09. The stock’s 50-day moving average price is $254.26 and its two-hundred day moving average price is $240.06. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $265.27.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. During the same period in the prior year, the firm posted $3.99 EPS. The company’s revenue was up 16.7% on a year-over-year basis. As a group, research analysts forecast that Primerica, Inc. will post 17.94 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is 21.91%.

Insider Activity

In related news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $1,657,015 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PRI shares. Piper Sandler started coverage on shares of Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Truist Financial increased their price objective on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group boosted their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Primerica has a consensus rating of “Hold” and a consensus target price of $275.20.

Primerica Profile

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.