Brandywine Global Investment Management LLC Buys 497 Shares of Primerica, Inc. (NYSE:PRI)

Brandywine Global Investment Management LLC raised its stake in Primerica, Inc. (NYSE:PRI) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,490 shares of the financial services provider’s stock after purchasing an additional 497 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Primerica were worth $7,461,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new position in shares of Primerica in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC grew its position in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 71 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the period. Finally, Allworth Financial LP lifted its stake in Primerica by 27.3% in the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRI. Morgan Stanley dropped their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $309.86.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is currently owned by company insiders.

Primerica Stock Performance

NYSE:PRI opened at $284.74 on Tuesday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The firm’s 50-day simple moving average is $286.22 and its 200 day simple moving average is $282.19. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 20.71 and a beta of 1.12.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Primerica Company 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.