World Investment Advisors Acquires 2,479 Shares of Primerica, Inc. $PRI

World Investment Advisors lifted its holdings in Primerica, Inc. (NYSE:PRI) by 49.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,517 shares of the financial services provider’s stock after acquiring an additional 2,479 shares during the quarter. World Investment Advisors’ holdings in Primerica were worth $2,057,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. lifted its holdings in shares of Primerica by 17.1% in the 1st quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider’s stock worth $506,000 after acquiring an additional 260 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Primerica by 21.7% in the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider’s stock worth $1,480,000 after acquiring an additional 927 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Primerica in the 1st quarter worth approximately $2,683,000. New Age Alpha Advisors LLC bought a new stake in Primerica during the 1st quarter valued at $1,922,000. Finally, Public Sector Pension Investment Board bought a new stake in Primerica during the 1st quarter valued at $9,234,000. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and upped their price target for the company from $292.00 to $318.00 in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Jefferies Financial Group lowered their price target on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a report on Monday, August 11th. Piper Sandler set a $292.00 price target on shares of Primerica and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Primerica in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.86.

Primerica Trading Down 0.7%

Shares of NYSE PRI opened at $259.66 on Friday. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The firm has a market capitalization of $8.41 billion, a PE ratio of 12.83 and a beta of 0.97. The firm has a fifty day simple moving average of $270.00 and a two-hundred day simple moving average of $267.14.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping the consensus estimate of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period in the prior year, the business earned $4.71 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 22nd were issued a $1.04 dividend. The ex-dividend date was Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio is 20.55%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at $9,541,982.40. This represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate 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.