Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 10,784 Primerica, Inc. $PRI

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,784 shares of the financial services provider’s stock, valued at approximately $2,951,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. HB Wealth Management LLC raised its stake in Primerica by 1.9% during the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock valued at $594,000 after purchasing an additional 38 shares in the last quarter. Applied Finance Capital Management LLC raised its position in shares of Primerica by 5.3% during the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider’s stock valued at $239,000 after buying an additional 42 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of Primerica by 7.4% in the 2nd quarter. Ascent Group LLC now owns 785 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 54 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Primerica by 0.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 9,568 shares of the financial services provider’s stock worth $2,618,000 after acquiring an additional 69 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Primerica by 1.7% during the first quarter. Great Lakes Advisors LLC now owns 4,619 shares of the financial services provider’s stock worth $1,314,000 after acquiring an additional 76 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total transaction of $649,125.00. Following the sale, the chief executive officer owned 33,892 shares of the company’s stock, valued at $8,800,057.80. This trade represents a 6.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PRI. Piper Sandler set a $292.00 price objective on Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primerica in a research note on Wednesday, October 8th. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods lowered their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, Jefferies Financial Group cut their price target on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $309.83.

Primerica Trading Down 0.0%

NYSE PRI opened at $253.97 on Friday. The stock has a market cap of $8.11 billion, a PE ratio of 11.67 and a beta of 0.96. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The company’s 50-day moving average price is $267.33 and its 200-day moving average price is $267.08.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The company had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. During the same period in the previous year, the company earned $4.83 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be issued a $1.04 dividend. The ex-dividend date is Friday, November 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is currently 19.12%.

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.