Pacer Advisors Inc. Acquires 1,920 Shares of Primerica, Inc. (NYSE:PRI)

Pacer Advisors Inc. lifted its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 28.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,634 shares of the financial services provider's stock after acquiring an additional 1,920 shares during the period. Pacer Advisors Inc.'s holdings in Primerica were worth $2,043,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PRI. ORG Partners LLC acquired a new position in shares of Primerica during the 2nd quarter valued at $30,000. Benjamin F. Edwards & Company Inc. raised its holdings in Primerica by 493.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider's stock worth $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 second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock worth $49,000 after buying an additional 60 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Primerica during the second quarter worth $71,000. Finally, O Dell Group LLC acquired a new position in Primerica during the fourth quarter worth $153,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Price Performance

Shares of NYSE PRI traded up $2.25 during trading on Thursday, hitting $266.56. The stock had a trading volume of 115,384 shares, compared to its average volume of 159,811. The company has a market capitalization of $9.17 billion, a PE ratio of 16.23 and a beta of 1.09. The firm has a fifty day moving average of $255.16 and a two-hundred day moving average of $240.31. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $267.92.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (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 business had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter last year, the company posted $3.99 earnings per share. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Primerica, Inc. will post 17.94 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.35%. 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%.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated 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 owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated 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 owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company's stock, valued at approximately $3,846,081.35. The disclosure for this sale can be found here. Over the last 90 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

Several research firms have weighed in on PRI. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They set a "neutral" rating and a $283.00 price objective on the stock. 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. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research note on Wednesday. Morgan Stanley upped their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on shares of Primerica from $239.00 to $249.00 and gave the stock a "hold" rating in a research note on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Primerica presently has an average rating of "Hold" and an average 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.