WCM Investment Management LLC Has $20.53 Million Position in Primerica, Inc. (NYSE:PRI)

WCM Investment Management LLC trimmed its position in Primerica, Inc. (NYSE:PRI - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,117 shares of the financial services provider's stock after selling 977 shares during the period. WCM Investment Management LLC owned approximately 0.23% of Primerica worth $20,527,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PRI. Geode Capital Management LLC grew its holdings in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock valued at $184,807,000 after buying an additional 25,951 shares in the last quarter. Raymond James & Associates lifted its position in Primerica by 4.6% during the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider's stock valued at $32,176,000 after acquiring an additional 5,323 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of 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 worth $28,742,000 after buying an additional 8,641 shares in the last quarter. Prospector Partners LLC boosted its holdings in shares of Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider's stock valued at $20,431,000 after acquiring an additional 210 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in Primerica by 0.5% during the third quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider's stock valued at $16,965,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Price Performance

Shares of NYSE:PRI traded down $11.49 during midday trading on Wednesday, reaching $278.65. The company's stock had a trading volume of 251,359 shares, compared to its average volume of 142,416. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91. The business's fifty day simple moving average is $283.06 and its 200-day simple moving average is $275.43. The company has a market capitalization of $9.30 billion, a P/E ratio of 21.29 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, analysts forecast that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be paid a $1.04 dividend. The ex-dividend date is Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.49%. This is an increase from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is currently 27.50%.

Primerica declared that its Board of Directors has authorized a share buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $304.14.

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.