Renaissance Technologies LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Renaissance Technologies LLC purchased a new position in Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,700 shares of the financial services provider’s stock, valued at approximately $1,349,000.

Several other large investors have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of Primerica by 10.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,603 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 149 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in Primerica in the fourth quarter valued at approximately $676,000. Crossmark Global Holdings Inc. increased its position in Primerica by 37.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,082 shares of the financial services provider’s stock valued at $840,000 after buying an additional 1,110 shares in the last quarter. Schroder Investment Management Group grew its position in Primerica by 13.6% during the 4th quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock worth $25,546,000 after purchasing an additional 14,904 shares during the last quarter. Finally, O Dell Group LLC purchased a new position in Primerica in the 4th quarter worth $153,000. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction 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 sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,500 shares of company stock valued at $1,657,015. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler initiated coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Truist Financial lifted their price objective on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Primerica has an average rating of “Hold” and a consensus target price of $275.20.

Primerica Stock Performance

Shares of PRI opened at $274.24 on Friday. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 16.69 and a beta of 1.09. Primerica, Inc. has a one year low of $184.76 and a one year high of $274.52. The stock has a 50 day moving average price of $257.54 and a 200 day moving average price of $241.29.

Primerica (NYSE:PRI) last posted its quarterly 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 net margin of 14.85% and a return on equity of 27.81%. The business had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter in the prior year, the company posted $3.99 EPS. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts predict that Primerica, Inc. will post 18.03 earnings per share for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.31%. The ex-dividend date was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is 21.91%.

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.