Primerica, Inc. (NYSE:PRI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Primerica, Inc. (NYSE:PRI) by 8.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,158 shares of the financial services provider’s stock after selling 1,057 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Primerica were worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in shares of Primerica in the second quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new position in Primerica in the 3rd quarter valued at $31,000. UMB Bank n.a. lifted its stake in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the period. Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 60 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Primerica in the second quarter valued at $71,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler assumed coverage on Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. TD Cowen assumed coverage on shares of Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price target for the company. Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Finally, Truist Financial lifted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $288.33.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This trade represents a 0.00 % 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 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,803,175 in the last 90 days. 0.85% of the stock is owned by corporate insiders.

Primerica Stock Up 0.8 %

PRI opened at $302.89 on Wednesday. The firm’s 50 day moving average is $270.38 and its 200-day moving average is $249.25. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $304.84. The firm has a market capitalization of $10.25 billion, a P/E ratio of 22.97 and a beta of 1.08.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.28 EPS. Equities analysts expect that Primerica, Inc. will post 18.49 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Primerica Company 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.