Schroder Investment Management Group Purchases 14,904 Shares of Primerica, Inc. (NYSE:PRI) (2024)

Posted by Defense World Staff on Jun 11th, 2024

Schroder Investment Management Group boosted its position in Primerica, Inc. (NYSE:PRI – Free Report) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,155 shares of the financial services provider’s stock after purchasing an additional 14,904 shares during the period. Schroder Investment Management Group owned approximately 0.35% of Primerica worth $25,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after acquiring an additional 236,051 shares in the last quarter. Norges Bank bought a new stake in shares of Primerica during the fourth quarter valued at approximately $31,194,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Primerica by 86.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after acquiring an additional 55,076 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Primerica by 47.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after acquiring an additional 40,647 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Primerica during the third quarter valued at approximately $6,098,000. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRI. Morgan Stanley lifted their price target on shares of Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Truist Financial lifted their price target on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $245.50.

Check Out Our Latest Report on Primerica

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now directly owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the sale, the president now directly owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now directly owns 100 shares in the company, valued at $24,981. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,234 shares of company stock valued at $764,731. 0.61% of the stock is currently owned by insiders.

Primerica Trading Down 0.4 %

NYSE PRI opened at $225.40 on Tuesday. The firm’s fifty day simple moving average is $225.08 and its two-hundred day simple moving average is $227.40. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $256.56. The firm has a market capitalization of $7.76 billion, a P/E ratio of 13.72 and a beta of 1.08.

Primerica (NYSE:PRI – Get Free Report) last released its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. During the same period in the prior year, the firm posted $3.49 earnings per share. Primerica’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Primerica, Inc. will post 17.66 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Monday, May 20th. Primerica’s dividend payout ratio is currently 18.26%.

Primerica Profile

(Free Report)

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.

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