Artemis Investment Management LLP Has $10.76 Million Position in Primerica, Inc. $PRI

Artemis Investment Management LLP boosted its stake in Primerica, Inc. (NYSE:PRI) by 14.6% in the fourth quarter, HoldingsChannel reports. The firm owned 41,634 shares of the financial services provider’s stock after buying an additional 5,318 shares during the period. Artemis Investment Management LLP’s holdings in Primerica were worth $10,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Seeds Investor LLC grew its stake in shares of Primerica by 3.2% in the 4th quarter. Seeds Investor LLC now owns 1,374 shares of the financial services provider’s stock valued at $355,000 after buying an additional 42 shares during the period. Orion Porfolio Solutions LLC raised its stake in Primerica by 1.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 45 shares during the period. TD Waterhouse Canada Inc. raised its stake in Primerica by 6.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 757 shares of the financial services provider’s stock worth $195,000 after buying an additional 47 shares during the period. Ascent Group LLC boosted its holdings in Primerica by 6.5% in the third quarter. Ascent Group LLC now owns 836 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 51 shares in the last quarter. Finally, Vident Advisory LLC boosted its holdings in Primerica by 3.2% in the second quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 55 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the sale, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This trade represents a 8.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president owned 11,611 shares in the company, valued at $2,930,384.18. The trade was a 13.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.63% of the company’s stock.

Primerica Stock Performance

Primerica stock opened at $276.80 on Friday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $288.03. The firm’s 50-day simple moving average is $260.45 and its 200 day simple moving average is $260.13. The stock has a market cap of $8.76 billion, a PE ratio of 12.07 and a beta of 0.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same quarter last year, the business posted $5.03 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts predict that Primerica, Inc. will post 23.84 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio (DPR) is 20.93%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $290.00 price target on shares of Primerica in a research report on Thursday, March 26th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Morgan Stanley dropped their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $293.60.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.