Brookstone Capital Management Purchases New Position in Primerica, Inc. (NYSE:PRI)

Brookstone Capital Management purchased a new stake in Primerica, Inc. (NYSE:PRI) during the third quarter, according to its most recent filing with the SEC. The firm purchased 1,080 shares of the financial services provider’s stock, valued at approximately $286,000.

A number of other hedge funds have also modified their holdings of the company. Burgundy Asset Management Ltd. raised its position in shares of Primerica by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock valued at $292,688,000 after acquiring an additional 17,095 shares during the period. Millennium Management LLC raised its position in shares of Primerica by 30,726.7% in the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after acquiring an additional 678,752 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Primerica by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after acquiring an additional 21,836 shares during the period. Principal Financial Group Inc. raised its holdings in Primerica by 5.0% during the 1st quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider’s stock worth $55,227,000 after buying an additional 10,354 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Primerica by 5.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 112,572 shares of the financial services provider’s stock worth $23,163,000 after buying an additional 5,326 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PRI. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Truist Financial raised their target price on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. TD Cowen began coverage on shares of Primerica in a report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price on the stock. Finally, 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. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $281.67.

Primerica Stock Down 0.2 %

Shares of NYSE:PRI opened at $277.05 on Tuesday. The company’s 50 day moving average price is $260.60 and its two-hundred day moving average price is $242.15. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $279.89. The firm has a market cap of $9.53 billion, a PE ratio of 16.86 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) 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 quarter last year, the business posted $3.99 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, research analysts expect that Primerica, Inc. will post 18.05 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.30%. 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 dividend payout ratio (DPR) is currently 21.91%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction 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 directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, President Peter W. Schneider sold 1,500 shares of the business’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 transaction, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, 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 sold 6,500 shares of company stock valued at $1,657,015 over the last quarter. Insiders own 0.85% of the company’s stock.

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.