Los Angeles Capital Management LLC Trims Stock Position in Primerica, Inc. $PRI

Los Angeles Capital Management LLC cut its stake in Primerica, Inc. (NYSE:PRI) by 73.7% in the 4th quarter, Holdings Channel reports. The firm owned 10,801 shares of the financial services provider’s stock after selling 30,193 shares during the period. Los Angeles Capital Management LLC’s holdings in Primerica were worth $2,825,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PRI. Life Cycle Investment Partners Ltd bought a new position in Primerica in the 4th quarter worth $40,714,000. Danske Bank A S bought a new position in Primerica in the 3rd quarter worth $30,396,000. Arbejdsmarkedets Tillaegspension bought a new position in Primerica in the 4th quarter worth $23,767,000. AQR Capital Management LLC raised its holdings in Primerica by 25.5% in the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock worth $96,089,000 after purchasing an additional 70,510 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Primerica by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after purchasing an additional 54,158 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

NYSE:PRI opened at $271.97 on Wednesday. The firm’s 50-day moving average price is $270.00 and its 200-day moving average price is $262.29. The company has a market capitalization of $8.48 billion, a PE ratio of 11.40 and a beta of 0.88. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.02 EPS. Equities analysts anticipate that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a $1.20 dividend. The ex-dividend date is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Primerica’s payout ratio is presently 20.13%.

Analyst Ratings Changes

Several brokerages have commented on PRI. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley upped their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $297.80.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

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.