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

Pacer Advisors Inc. lifted its position in Primerica, Inc. (NYSE:PRI) by 28.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,634 shares of the financial services provider’s stock after acquiring an additional 1,920 shares during the quarter. Pacer Advisors Inc.’s holdings in Primerica were worth $2,043,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Primerica during the fourth quarter valued at $31,194,000. Los Angeles Capital Management LLC boosted its holdings 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 valued at $23,601,000 after buying an additional 39,761 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Primerica during the 2nd quarter valued at about $71,000. Dimensional Fund Advisors LP raised its stake in 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 bought a new position in Primerica in the second quarter worth about $4,555,000. 90.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on PRI shares. Morgan Stanley upped their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group upped their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Wednesday. Truist Financial boosted 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. Finally, Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $275.20.

Insider Activity

In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction 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 sale, the president now directly owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the transaction, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,657,015 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

Primerica Stock Performance

Shares of PRI opened at $264.23 on Thursday. Primerica, Inc. has a one year low of $184.76 and a one year high of $265.67. The stock’s fifty day moving average is $255.16 and its 200-day moving average is $240.31. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 16.08 and a beta of 1.09.

Primerica (NYSE:PRI) last released its quarterly 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. The company had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. Primerica’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.99 EPS. Analysts forecast that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is currently 21.91%.

Primerica Company 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.