Lecap Asset Management Ltd. Invests $929,000 in Primerica, Inc. (NYSE:PRI)

Lecap Asset Management Ltd. bought a new stake in Primerica, Inc. (NYSE:PRI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,505 shares of the financial services provider’s stock, valued at approximately $929,000.

A number of other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in shares of Primerica during the 2nd quarter worth approximately $30,000. V Square Quantitative Management LLC bought a new position in Primerica in the third quarter worth $31,000. UMB Bank n.a. boosted its stake in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $1,657,015 over the last 90 days. 0.85% of the stock is owned by company insiders.

Primerica Stock Down 0.6 %

Primerica stock opened at $277.11 on Thursday. The stock has a 50-day simple moving average of $264.66 and a 200 day simple moving average of $243.65. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 22.19 and a beta of 1.09. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $284.37.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same period in the previous year, the firm posted $3.99 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Primerica, Inc. will post 18.13 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is presently 28.82%.

Analysts Set New Price Targets

PRI has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. TD Cowen initiated coverage on Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price for the company. Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Piper Sandler assumed coverage on Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective for the company. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $281.67.

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.