Primerica, Inc. (NYSE:PRI) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its position in Primerica, Inc. (NYSE:PRI) by 8.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,966 shares of the financial services provider’s stock after acquiring an additional 817 shares during the period. Harbor Capital Advisors Inc.’s holdings in Primerica were worth $2,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Burgundy Asset Management Ltd. grew its position in Primerica by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock valued at $292,688,000 after acquiring an additional 17,095 shares in the last quarter. Millennium Management LLC increased its holdings in Primerica by 30,726.7% in the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after buying an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $150,880,000 after buying an additional 21,836 shares in the last quarter. Raymond James & Associates lifted its holdings in Primerica by 4.6% during the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after buying an additional 5,323 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock worth $23,601,000 after acquiring an additional 39,761 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Ratings Changes

PRI has been the topic of a number of recent research reports. Morgan Stanley raised their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. TD Cowen assumed coverage on Primerica in a research note on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Piper Sandler began coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price target for the company. Finally, Jefferies Financial Group lifted their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $281.67.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is owned by company insiders.

Primerica Trading Up 0.2 %

Shares of Primerica stock opened at $274.89 on Tuesday. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 22.01 and a beta of 1.08. The firm’s 50-day moving average price is $267.44 and its two-hundred day moving average price is $246.68. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $284.37.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The firm had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. During the same period last year, the company earned $3.99 EPS. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts predict that Primerica, Inc. will post 18.13 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is 28.82%.

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.