Dimensional Fund Advisors LP Grows Stock Holdings in Primerica, Inc. (NYSE:PRI)

Dimensional Fund Advisors LP raised its position in shares of Primerica, Inc. (NYSE:PRI) by 3.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 637,753 shares of the financial services provider’s stock after purchasing an additional 21,836 shares during the period. Dimensional Fund Advisors LP owned approximately 1.85% of Primerica worth $150,880,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PRI. Norges Bank purchased a new stake in Primerica during the fourth quarter valued at about $31,194,000. Los Angeles Capital Management LLC grew its stake in shares of Primerica by 66.3% during the second quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after buying an additional 39,761 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Primerica during the second quarter valued at about $71,000. Schroder Investment Management Group grew its stake in shares of Primerica by 13.6% during the fourth quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock valued at $25,546,000 after buying an additional 14,904 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake 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 buying an additional 14,662 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Primerica stock opened at $258.60 on Friday. The stock’s 50 day simple moving average is $254.26 and its two-hundred 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 fifty-two week low of $184.76 and a fifty-two week high of $265.27.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. During the same period last year, the business earned $3.99 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Primerica, Inc. will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

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

Insider Activity

In related news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock worth $1,657,015. Insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

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

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.