Flputnam Investment Management Co. Sells 2,209 Shares of Primerica, Inc. (NYSE:PRI)

Flputnam Investment Management Co. cut its stake in Primerica, Inc. (NYSE:PRI) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,675 shares of the financial services provider’s stock after selling 2,209 shares during the quarter. Flputnam Investment Management Co.’s holdings in Primerica were worth $1,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. ORG Partners LLC bought a new stake in shares of Primerica in the 4th quarter valued at about $26,000. Arlington Trust Co LLC bought a new stake in Primerica during the 3rd quarter worth approximately $25,000. LWM Advisory Services LLC bought a new stake in Primerica during the 3rd quarter worth approximately $26,000. Sound Income Strategies LLC increased its stake in Primerica by 121.9% during the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 128 shares in the last quarter. Finally, Covestor Ltd increased its stake in Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John A. Jr. Addison sold 1,215 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the sale, the director now directly owns 16,467 shares of the company’s stock, valued at approximately $4,100,283. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,708 shares of company stock valued at $1,648,677. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James cut Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Morgan Stanley increased their target price on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Truist Financial increased their target price on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Keefe, Bruyette & Woods upped their price target on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $245.50.

Primerica Stock Up 0.5 %

NYSE:PRI opened at $214.03 on Wednesday. Primerica, Inc. has a twelve month low of $173.00 and a twelve month high of $256.56. The business has a 50 day moving average price of $244.64 and a two-hundred day moving average price of $221.78. The company has a market cap of $7.43 billion, a P/E ratio of 13.48 and a beta of 1.06.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). Primerica had a return on equity of 27.83% and a net margin of 20.37%. The firm had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. During the same period last year, the company earned $3.49 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that Primerica, Inc. will post 17.76 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Tuesday, February 20th. This is an increase from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio is presently 18.89%.

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.