O Shaughnessy Asset Management LLC Has $1.99 Million Holdings in Primerica, Inc. (NYSE:PRI)

O Shaughnessy Asset Management LLC increased its position in Primerica, Inc. (NYSE:PRI) by 10.6% in the fourth quarter, HoldingsChannel reports. The firm owned 7,342 shares of the financial services provider’s stock after acquiring an additional 706 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Primerica were worth $1,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. Raymond James Financial Inc. acquired a new stake in shares of Primerica in the fourth quarter worth $34,191,000. California Public Employees Retirement System lifted its stake 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 worth $30,323,000 after acquiring an additional 41,612 shares in the last quarter. SVB Wealth LLC acquired a new stake in Primerica during the 4th quarter worth about $10,703,000. Strategic Financial Concepts LLC purchased a new position in Primerica during the 4th quarter valued at about $8,767,000. Finally, Amundi acquired a new position in shares of Primerica in the 4th quarter valued at about $7,868,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Price Performance

NYSE PRI opened at $248.16 on Friday. The firm has a market cap of $8.25 billion, a P/E ratio of 18.05 and a beta of 1.12. The stock’s 50-day moving average is $284.91 and its two-hundred day moving average is $282.38. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.68%. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. BMO Capital Markets started 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. Morgan Stanley dropped their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $309.86.

Insider Buying and Selling

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 in the last quarter. 0.61% of the stock is currently owned by company insiders.

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.