Natixis Advisors L.P. Decreases Stake in Primerica, Inc. (NYSE:PRI)

Natixis Advisors L.P. lessened its stake in shares of Primerica, Inc. (NYSE:PRI) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 113,581 shares of the financial services provider’s stock after selling 2,258 shares during the period. Natixis Advisors L.P. owned approximately 0.32% of Primerica worth $23,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Invesco Ltd. lifted its stake in Primerica by 110.6% during the 3rd quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after acquiring an additional 236,051 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Primerica by 86.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after buying an additional 55,076 shares during the period. Alps Advisors Inc. acquired a new stake in Primerica during the third quarter worth about $6,098,000. Los Angeles Capital Management LLC raised its position in Primerica by 44.1% during the third quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock valued at $16,479,000 after acquiring an additional 25,981 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Primerica by 48.6% in the third quarter. Envestnet Asset Management Inc. now owns 61,535 shares of the financial services provider’s stock valued at $11,938,000 after acquiring an additional 20,137 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 0.6 %

Shares of NYSE PRI opened at $217.99 on Monday. The firm has a 50-day simple moving average of $237.59 and a 200-day simple moving average of $223.21. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 13.73 and a beta of 1.10. Primerica, Inc. has a 52 week low of $173.00 and a 52 week high of $256.56.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). The business had revenue of $726.34 million during the quarter, compared to analyst estimates of $723.64 million. Primerica had a net margin of 20.37% and a return on equity of 27.83%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.49 EPS. As a group, equities research analysts expect that Primerica, Inc. will post 17.78 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were issued a $0.75 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s dividend payout ratio is presently 18.89%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PRI shares. Raymond James cut shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Morgan Stanley raised their price objective on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Truist Financial boosted their target price on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $245.50.

Insiders Place Their Bets

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total transaction of $302,535.00. Following the transaction, the director now directly owns 16,467 shares of the company’s stock, valued at $4,100,283. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the sale, the president now directly owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Jr. Addison sold 1,215 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total transaction of $302,535.00. Following the sale, the director now directly owns 16,467 shares in the company, valued at $4,100,283. The disclosure for this sale can be found here. Insiders sold 6,708 shares of company stock valued at $1,648,677 in the last three months. 0.61% of the stock is currently owned by insiders.

About Primerica

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.