Public Employees Retirement Association of Colorado Decreases Holdings in Primerica, Inc. (NYSE:PRI)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,960 shares of the financial services provider’s stock after selling 367 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Primerica were worth $937,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC purchased a new stake in shares of Primerica during the 2nd quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. grew its holdings in Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 148 shares during the last quarter. Blue Trust Inc. grew its holdings in Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 60 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Primerica during the 2nd quarter valued at about $71,000. Finally, O Dell Group LLC bought a new position in Primerica during the 4th quarter valued at about $153,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Primerica

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

Primerica Price Performance

Shares of PRI stock opened at $263.34 on Wednesday. The company has a market capitalization of $9.06 billion, a P/E ratio of 16.03 and a beta of 1.09. The company’s 50-day simple moving average is $254.89 and its two-hundred day simple moving average is $240.15. Primerica, Inc. has a one year low of $184.76 and a one year high of $265.67.

Primerica (NYSE:PRI) last announced its quarterly earnings results 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 firm had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter in the prior year, the company earned $3.99 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. On average, research analysts expect that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is presently 21.91%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several analyst reports. Piper Sandler initiated coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 price target on the stock. Truist Financial upped their price target on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley upped their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Jefferies Financial Group upped their target price on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Primerica has a consensus rating of “Hold” and an average price target 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.