Ausbil Investment Management Ltd Buys Shares of 2,507 Primerica, Inc. (NYSE:PRI)

Ausbil Investment Management Ltd acquired a new stake in Primerica, Inc. (NYSE:PRI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,507 shares of the financial services provider's stock, valued at approximately $665,000.

Several other hedge funds have also added to or reduced their stakes in PRI. Burgundy Asset Management Ltd. increased its holdings in shares of Primerica by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider's stock worth $292,688,000 after acquiring an additional 17,095 shares in the last quarter. Millennium Management LLC increased its stake in Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock worth $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Dimensional Fund Advisors LP raised 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 worth $150,880,000 after buying an additional 21,836 shares during the period. Raymond James & Associates raised its holdings in Primerica by 4.6% during the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider's stock worth $32,176,000 after buying an additional 5,323 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in Primerica by 66.3% in 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 in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Price Performance

NYSE PRI traded up $2.25 during trading on Thursday, reaching $279.36. 96,599 shares of the company's stock were exchanged, compared to its average volume of 155,884. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $284.37. The stock has a market capitalization of $9.45 billion, a P/E ratio of 22.37 and a beta of 1.09. The business has a 50 day moving average price of $264.66 and a 200-day moving average price of $243.65.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating analysts' consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million for the quarter, compared to analysts' expectations of $748.88 million. During the same quarter in the prior year, the business earned $3.99 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts forecast that Primerica, Inc. will post 18.13 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Primerica's previous quarterly dividend of $0.75. Primerica's dividend payout ratio is 28.82%.

Insider Buying and Selling at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Glenn J. Williams sold 3,000 shares of the firm'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 transaction of $757,650.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the firm's stock in a transaction on 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 transaction, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 0.00 % decrease in their position. 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 three months. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PRI. Keefe, Bruyette & Woods raised 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. Truist Financial lifted their price target on Primerica from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They set a "neutral" rating and a $283.00 price objective for the company. Jefferies Financial Group boosted 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. Finally, StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $281.67.

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.