Primerica, Inc. $PRI Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Primerica, Inc. (NYSE:PRI) by 115.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,774 shares of the financial services provider’s stock after purchasing an additional 6,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Primerica were worth $3,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Burgundy Asset Management Ltd. increased its stake in Primerica by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock valued at $364,932,000 after purchasing an additional 23,454 shares during the period. First Trust Advisors LP grew its holdings in shares of Primerica by 35.9% during the second quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider’s stock worth $119,847,000 after buying an additional 115,754 shares during the last quarter. Bank of New York Mellon Corp increased its position in Primerica by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 318,653 shares of the financial services provider’s stock valued at $87,206,000 after acquiring an additional 3,024 shares during the period. AQR Capital Management LLC raised its stake in Primerica by 171.8% during the 1st quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider’s stock valued at $89,907,000 after acquiring an additional 199,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Primerica by 21.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 171,172 shares of the financial services provider’s stock valued at $46,845,000 after acquiring an additional 30,533 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRI has been the topic of several analyst reports. BMO Capital Markets raised Primerica from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $292.00 to $318.00 in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. Morgan Stanley set a $292.00 price objective on shares of Primerica in a research report on Monday, December 15th. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a report on Monday. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $300.00.

Primerica Stock Performance

NYSE:PRI opened at $258.06 on Friday. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $298.75. The stock has a fifty day moving average price of $257.91 and a two-hundred day moving average price of $264.62. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 11.86 and a beta of 0.90.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping the consensus estimate of $5.52 by $0.81. The company had revenue of $838.88 million for the quarter, compared to analyst estimates of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.83 EPS. On average, analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 21st were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 21st. Primerica’s dividend payout ratio is presently 19.12%.

Primerica declared that its Board of Directors has authorized a share repurchase plan on Wednesday, November 19th that permits the company to repurchase $475.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the sale, the chief executive officer directly owned 33,892 shares in the company, valued at approximately $8,800,057.80. This trade represents a 6.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total value of $510,600.00. Following the sale, the president directly owned 7,301 shares in the company, valued at $1,863,945.30. This trade represents a 21.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,200 shares of company stock valued at $1,338,225. Corporate insiders own 0.61% of the company’s stock.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.