Mutual of America Capital Management LLC Sells 2,810 Shares of Primerica, Inc. (NYSE:PRI)

Mutual of America Capital Management LLC trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 6.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 40,678 shares of the financial services provider’s stock after selling 2,810 shares during the quarter. Mutual of America Capital Management LLC owned 0.12% of Primerica worth $9,624,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. ORG Partners LLC bought a new stake in Primerica during the 2nd quarter valued at $30,000. Benjamin F. Edwards & Company Inc. raised its holdings in Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the last quarter. Blue Trust Inc. raised its holdings in Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Primerica during the 1st quarter valued at $163,000. Finally, O Dell Group LLC bought a new stake in Primerica during the 4th quarter valued at $153,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Down 0.3 %

Shares of NYSE PRI opened at $255.84 on Thursday. The firm’s 50-day moving average price is $253.54 and its 200-day moving average price is $239.86. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $265.27. The company has a market cap of $8.80 billion, a PE ratio of 15.57 and a beta of 1.09.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter last year, the business earned $3.99 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

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

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now directly owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares in the company, valued at approximately $3,846,081.35. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,657,015 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PRI has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Truist Financial upped their price objective on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, Piper Sandler initiated coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $275.20.

About Primerica

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.