Susquehanna Fundamental Investments LLC Takes Position in Primerica, Inc. (NYSE:PRI)

Susquehanna Fundamental Investments LLC purchased a new stake in Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,855 shares of the financial services provider’s stock, valued at approximately $3,514,000.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Primerica by 45.5% in the second 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. GPS Wealth Strategies Group LLC lifted its position in Primerica by 2.4% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 62 shares during the period. Inspire Investing LLC lifted its position in Primerica by 5.4% during the 2nd quarter. Inspire Investing LLC now owns 1,483 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 76 shares during the period. Blair William & Co. IL grew its stake in shares of Primerica by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 12,265 shares of the financial services provider’s stock valued at $2,902,000 after purchasing an additional 106 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Primerica by 0.3% in the first quarter. Retirement Systems of Alabama now owns 43,994 shares of the financial services provider’s stock valued at $11,129,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PRI shares. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Wednesday, September 25th. Keefe, Bruyette & Woods increased their price target 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. Jefferies Financial Group raised their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $275.20.

Primerica Price Performance

Shares of NYSE:PRI opened at $263.17 on Monday. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 16.02 and a beta of 1.09. The business’s 50 day simple moving average is $255.75 and its 200-day simple moving average is $240.57. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $267.92.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. During the same quarter in the prior year, the company earned $3.99 earnings per share. Primerica’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts anticipate that Primerica, Inc. will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio is 21.91%.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction 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 sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 approximately $2,678,727.49. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $1,657,015 over the last ninety days. 0.85% of the stock is currently owned by insiders.

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.