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

Ausbil Investment Management Ltd purchased a new position in shares of Primerica, Inc. (NYSE:PRI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,507 shares of the financial services provider’s stock, valued at approximately $665,000.

A number of other large investors also recently bought and sold shares of the business. ORG Partners LLC purchased a new stake in shares of Primerica during the second quarter valued at $30,000. V Square Quantitative Management LLC purchased a new stake in Primerica in the 3rd quarter valued at about $31,000. UMB Bank n.a. boosted its position in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 148 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of 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 acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Peter W. Schneider sold 1,500 shares of the 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 transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 sale, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock worth $1,657,015. Company insiders own 0.85% of the company’s stock.

Primerica Price Performance

NYSE PRI traded up $1.04 on Thursday, hitting $278.15. The stock had a trading volume of 18,109 shares, compared to its average volume of 155,503. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $284.37. The business’s fifty day moving average price is $264.66 and its 200 day moving average price is $243.65. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 16.93 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 earnings per share. As a group, sell-side analysts anticipate that Primerica, Inc. will post 18.13 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a $0.90 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is currently 21.91%.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of recent research reports. Truist Financial increased their price target on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price target 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. Jefferies Financial Group increased 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. 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. Finally, TD Cowen assumed coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $281.67.

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.