Primerica, Inc. (NYSE:PRI) Shares Sold by Twinbeech Capital LP

Twinbeech Capital LP cut its holdings in Primerica, Inc. (NYSE:PRI) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,145 shares of the financial services provider’s stock after selling 694 shares during the period. Twinbeech Capital LP’s holdings in Primerica were worth $3,568,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC raised its holdings in Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 10,635 shares during the last quarter. Sylvest Advisors LLC acquired a new position in Primerica in the 4th quarter valued at $543,000. California Public Employees Retirement System raised its holdings in Primerica by 59.4% in the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider’s stock valued at $30,323,000 after acquiring an additional 41,612 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after acquiring an additional 11,612 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Primerica by 4,150.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,123 shares of the financial services provider’s stock valued at $1,120,000 after acquiring an additional 4,026 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Trading Down 0.6%

Shares of NYSE PRI opened at $278.67 on Wednesday. Primerica, Inc. has a 12-month low of $219.52 and a 12-month high of $307.91. The company has a market cap of $9.22 billion, a P/E ratio of 20.27 and a beta of 1.02. The stock has a fifty day moving average price of $269.22 and a 200 day moving average price of $280.09.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.25. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The firm had revenue of $803.56 million during the quarter, compared to the consensus estimate of $783.54 million. During the same period in the prior year, the firm earned $3.91 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 annualized dividend and a yield of 1.49%. Primerica’s dividend payout ratio is currently 27.98%.

Analysts Set New Price Targets

PRI has been the subject of several analyst reports. Morgan Stanley boosted their price target on Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a report on Monday. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods dropped their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Finally, BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Primerica presently has a consensus rating of “Hold” and an average target price of $308.00.

Insider Activity at Primerica

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares of the company’s stock, valued at $56,030. This represents a 53.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. The trade was a 13.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

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.