AQR Capital Management LLC Raises Stock Holdings in Primerica, Inc. (NYSE:PRI)

AQR Capital Management LLC increased its position in Primerica, Inc. (NYSE:PRI) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,968 shares of the financial services provider’s stock after purchasing an additional 1,035 shares during the period. AQR Capital Management LLC owned 0.08% of Primerica worth $6,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. ORG Partners LLC purchased a new stake in Primerica in the second quarter worth $30,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. boosted its holdings in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Primerica in the second quarter worth $71,000. Finally, O Dell Group LLC bought a new stake in Primerica in the fourth quarter worth $153,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PRI shares. Truist Financial boosted their target price on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler started coverage on Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley upped 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. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $275.20.

Insider Buying and Selling at Primerica

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

Primerica Price Performance

Shares of NYSE:PRI opened at $268.27 on Friday. The company has a market cap of $9.08 billion, a P/E ratio of 16.33 and a beta of 1.09. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $268.37. The stock’s fifty day moving average price is $257.07 and its 200-day moving average price is $241.15.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating 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 in the prior year, the company earned $3.99 earnings per share. Primerica’s revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts anticipate that Primerica, Inc. will post 18.03 earnings per share for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a $0.90 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.34%. Primerica’s dividend 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.