Primerica, Inc. (NYSE:PRI) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its position in shares of Primerica, Inc. (NYSE:PRI) by 39.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,864 shares of the financial services provider’s stock after purchasing an additional 12,203 shares during the period. Texas Permanent School Fund Corp owned 0.12% of Primerica worth $10,141,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PRI. Norges Bank acquired a new stake in shares of Primerica during the 4th quarter worth about $31,194,000. Los Angeles Capital Management LLC boosted its stake in shares of Primerica by 66.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock worth $23,601,000 after purchasing an additional 39,761 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Primerica during the 2nd quarter worth about $71,000. Schroder Investment Management Group boosted its stake in shares of Primerica by 13.6% during the 4th quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock worth $25,546,000 after purchasing an additional 14,904 shares during the last quarter. Finally, Burgundy Asset Management Ltd. boosted its stake in shares of Primerica by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,220,069 shares of the financial services provider’s stock worth $308,629,000 after purchasing an additional 14,662 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Up 0.1 %

Shares of PRI stock opened at $255.37 on Tuesday. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 15.54 and a beta of 1.09. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $265.27. The firm’s 50 day moving average price is $250.83 and its two-hundred day moving average price is $239.45.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. Primerica’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.99 earnings per share. On average, equities analysts forecast that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.90 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is currently 21.91%.

Analyst Ratings Changes

PRI has been the topic of several research analyst reports. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st. Jefferies Financial Group raised their target price on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. 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. Piper Sandler initiated coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $275.20.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $1,817,595 over the last 90 days. Company insiders own 0.85% of the company’s stock.

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.