Amalgamated Bank Sells 632 Shares of Primerica, Inc. (NYSE:PRI)

Amalgamated Bank lessened its stake in shares of Primerica, Inc. (NYSE:PRI) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,720 shares of the financial services provider’s stock after selling 632 shares during the quarter. Amalgamated Bank owned 0.06% of Primerica worth $4,902,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Burgundy Asset Management Ltd. lifted its holdings in shares of Primerica by 1.2% during the first quarter. Burgundy Asset Management Ltd. now owns 1,220,069 shares of the financial services provider’s stock valued at $308,629,000 after acquiring an additional 14,662 shares during the period. Lyrical Asset Management LP increased its position in shares of Primerica by 1.5% during the 4th quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock worth $136,580,000 after purchasing an additional 9,923 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after purchasing an additional 21,836 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Primerica by 4.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock valued at $47,136,000 after buying an additional 9,198 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Primerica by 5.0% during the first quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider’s stock worth $55,227,000 after buying an additional 10,354 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Up 0.0 %

Primerica stock opened at $258.60 on Friday. The business’s 50-day simple moving average is $254.26 and its 200 day simple moving average is $240.00. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 15.74 and a beta of 1.09. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $265.27.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter in the previous year, the company earned $3.99 EPS. Primerica’s revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts expect that Primerica, Inc. will post 17.94 EPS for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.90 per share. This is a boost from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.39%. Primerica’s payout ratio is presently 21.91%.

Analysts Set New Price Targets

Several brokerages have recently commented on PRI. Keefe, Bruyette & Woods boosted their target price on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Jefferies Financial Group raised their target price on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Piper Sandler initiated coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and an average price target of $275.20.

Insider Activity

In related news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $1,657,015 in the last 90 days. 0.85% of the stock is owned by company insiders.

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.