Dana Investment Advisors Inc. Acquires 400 Shares of Primerica, Inc. (NYSE:PRI)

Dana Investment Advisors Inc. increased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 13.1% during the second quarter, Holdings Channel reports. The fund owned 3,462 shares of the financial services provider’s stock after acquiring an additional 400 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Primerica were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. boosted its position in Primerica by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock worth $292,688,000 after purchasing an additional 17,095 shares during the period. Millennium Management LLC lifted its stake in shares of Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after buying an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after buying an additional 21,836 shares during the period. Principal Financial Group Inc. grew its stake in Primerica by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider’s stock valued at $55,227,000 after buying an additional 10,354 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Primerica by 13.6% in the 4th quarter. Schroder Investment Management Group now owns 124,155 shares of the financial services provider’s stock valued at $25,546,000 after acquiring an additional 14,904 shares during the period. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRI. Piper Sandler began coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective for the company. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group lifted their target price on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, Truist Financial raised their price target on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $275.20.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’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 owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was 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 directly owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is currently owned by corporate insiders.

Primerica Stock Up 0.8 %

PRI stock opened at $268.27 on Friday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $268.37. The business has a 50-day simple moving average of $257.07 and a 200 day simple moving average of $241.15. The company has a market cap of $9.08 billion, a PE ratio of 16.33 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.99 EPS. On average, analysts anticipate that Primerica, Inc. will post 18.03 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.90 per share. The ex-dividend date was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 1.34%. Primerica’s dividend payout ratio is presently 21.91%.

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.