Primerica, Inc. (NYSE:PRI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in Primerica, Inc. (NYSE:PRI) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,158 shares of the financial services provider’s stock after selling 1,057 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Primerica were worth $3,224,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL raised its holdings in shares of Primerica by 24.5% during the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after buying an additional 2,393 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Primerica by 456.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 7,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Primerica by 136.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock worth $1,599,000 after acquiring an additional 3,649 shares during the period. Edgestream Partners L.P. bought a new position in shares of Primerica in the first quarter worth $979,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Primerica during the second quarter valued at $3,514,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

Primerica stock opened at $302.89 on Wednesday. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 22.97 and a beta of 1.08. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $304.84. The firm’s 50 day moving average price is $270.38 and its two-hundred day moving average price is $249.25.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the previous year, the firm posted $4.28 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Primerica, Inc. will post 18.49 EPS for the current fiscal year.

Primerica Dividend Announcement

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

Insiders Place Their Bets

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, President Peter W. Schneider sold 1,500 shares of the firm’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 transaction of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares in the company, valued at approximately $3,846,081.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,803,175 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PRI has been the subject of a number of recent analyst reports. Piper Sandler began coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price for the company. Truist Financial increased their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen started coverage on Primerica in a report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price on the stock. Jefferies Financial Group increased their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods lifted their price target on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $288.33.

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.