Artemis Investment Management LLP Invests $5.24 Million in Primerica, Inc. (NYSE:PRI)

Artemis Investment Management LLP acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,292 shares of the financial services provider’s stock, valued at approximately $5,236,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in Primerica by 17.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 72,827 shares of the financial services provider’s stock valued at $17,229,000 after buying an additional 10,907 shares during the period. Dimensional Fund Advisors LP increased its position in Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after purchasing an additional 21,836 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Primerica during the second quarter worth approximately $1,349,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Primerica by 11.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,009 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 308 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Primerica by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 12,265 shares of the financial services provider’s stock valued at $2,902,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PRI. Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $303.00.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Primerica Trading Up 1.1 %

NYSE PRI opened at $291.93 on Monday. The company has a 50-day moving average price of $285.92 and a two-hundred day moving average price of $269.66. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 22.30 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period last year, the firm earned $4.28 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Primerica, Inc. will post 19.55 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Primerica declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.