Westfield Capital Management Co. LP Buys 6,623 Shares of Primerica, Inc. $PRI

Westfield Capital Management Co. LP raised its stake in shares of Primerica, Inc. (NYSE:PRI) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,774 shares of the financial services provider’s stock after purchasing an additional 6,623 shares during the period. Westfield Capital Management Co. LP owned 0.79% of Primerica worth $71,278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Primerica during the 3rd quarter worth $27,000. Smartleaf Asset Management LLC boosted its holdings in Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 69 shares during the period. Quent Capital LLC bought a new stake in Primerica during the third quarter valued at about $33,000. First Horizon Advisors Inc. grew its position in shares of Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 186 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Primerica news, Director Joel M. Babbit sold 700 shares of Primerica stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the sale, the director directly owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. The trade was a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the sale, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. TD Cowen reiterated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Morgan Stanley set a $292.00 target price on shares of Primerica in a research report on Monday, December 15th. Finally, Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $300.00.

Primerica Trading Up 1.1%

Shares of NYSE:PRI opened at $255.53 on Thursday. The firm has a market capitalization of $8.16 billion, a PE ratio of 11.14 and a beta of 0.91. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $296.00. The business’s 50 day moving average is $260.80 and its 200-day moving average is $263.26.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The business had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same period in the prior year, the company posted $5.03 earnings per share. Primerica’s revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This is an increase from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. Primerica’s payout ratio is presently 20.93%.

Primerica 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.