Versor Investments LP Acquires Shares of 3,856 Primerica, Inc. (NYSE:PRI)

Versor Investments LP acquired a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,856 shares of the financial services provider's stock, valued at approximately $1,022,000.

A number of other institutional investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC increased its stake in Primerica by 8.7% in the third quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider's stock valued at $28,742,000 after purchasing an additional 8,641 shares during the period. Meritage Portfolio Management increased its stake in Primerica by 104.9% in the third quarter. Meritage Portfolio Management now owns 2,887 shares of the financial services provider's stock valued at $765,000 after purchasing an additional 1,478 shares during the period. Crossmark Global Holdings Inc. increased its stake in Primerica by 106.6% in the third quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the financial services provider's stock valued at $1,241,000 after purchasing an additional 2,415 shares during the period. Axxcess Wealth Management LLC acquired a new position in Primerica in the third quarter valued at $221,000. Finally, Atria Investments Inc increased its stake in Primerica by 8.0% in the third quarter. Atria Investments Inc now owns 8,950 shares of the financial services provider's stock valued at $2,373,000 after purchasing an additional 662 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Performance

PRI stock traded up $2.27 during trading on Tuesday, reaching $302.89. 113,072 shares of the company were exchanged, compared to its average volume of 155,043. The company has a market cap of $10.25 billion, a P/E ratio of 22.97 and a beta of 1.08. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $304.84. The stock's 50 day moving average price is $270.38 and its 200 day moving average price is $249.25.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the prior year, the firm earned $4.28 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Primerica, Inc. will post 18.49 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica's dividend payout ratio is presently 27.50%.

Insider Activity

In other 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 owns 10,259 shares of the company's stock, valued at $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the president now owns 10,259 shares of the company's stock, valued at approximately $2,678,727.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,803,175 over the last 90 days. Insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group lifted their price objective 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. TD Cowen assumed coverage on shares of Primerica in a report on Wednesday, October 9th. They issued a "buy" rating and a $314.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $255.00 to $275.00 and gave the company a "market perform" rating in a report on Wednesday, July 17th. Truist Financial lifted their target price on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday. Finally, Piper Sandler started 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Primerica currently has a consensus rating of "Hold" and a consensus target price of $288.33.

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.