Lecap Asset Management Ltd. Acquires New Stake in Primerica, Inc. $PRI

Lecap Asset Management Ltd. acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,081 shares of the financial services provider’s stock, valued at approximately $796,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. Root Financial Partners LLC bought a new position in shares of Primerica during the 3rd quarter valued at about $27,000. Smartleaf Asset Management LLC raised its holdings in Primerica by 186.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after buying an additional 69 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the fourth quarter worth about $30,000. Quent Capital LLC purchased a new stake in Primerica in the 3rd quarter worth approximately $33,000. Finally, Hantz Financial Services Inc. boosted its holdings in Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 186 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Price Performance

PRI stock opened at $273.60 on Monday. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 11.93 and a beta of 0.90. The business has a 50 day simple moving average of $256.37 and a two-hundred day simple moving average of $259.56. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The company had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. During the same period in the previous year, the firm posted $5.03 EPS. Primerica’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were given a $1.20 dividend. This is a boost from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, February 23rd. Primerica’s dividend payout ratio (DPR) is presently 20.93%.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president directly owned 11,611 shares in the company, valued at $2,930,384.18. The trade was a 13.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. The trade was a 8.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the topic of several research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $290.00 target price on shares of Primerica in a report on Thursday, March 26th. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. TD Cowen restated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Morgan Stanley decreased their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $293.60.

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.