New Age Alpha Advisors LLC Cuts Stock Holdings in Primerica, Inc. $PRI

New Age Alpha Advisors LLC trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 40.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,162 shares of the financial services provider’s stock after selling 2,793 shares during the period. New Age Alpha Advisors LLC’s holdings in Primerica were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Primerica by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after purchasing an additional 2,525 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Primerica by 12.4% during the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after purchasing an additional 54,158 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Primerica by 25.5% during the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock valued at $96,089,000 after purchasing an additional 70,510 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Primerica by 2.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock valued at $71,278,000 after purchasing an additional 6,623 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Primerica by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 216,312 shares of the financial services provider’s stock valued at $56,150,000 after purchasing an additional 31,876 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the sale, the president owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

Primerica Stock Performance

Primerica stock opened at $271.65 on Thursday. The company’s fifty day moving average price is $267.33 and its 200 day moving average price is $261.73. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The stock has a market capitalization of $8.47 billion, a P/E ratio of 11.39 and a beta of 0.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. During the same quarter last year, the company earned $5.02 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Primerica, Inc. will post 24.42 EPS for the current year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a $1.20 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Wall Street Analysts Forecast Growth

PRI has been the subject of several recent research reports. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a report on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Finally, Morgan Stanley lifted their target price on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $297.80.

Primerica Company 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.