Geode Capital Management LLC Has $205.01 Million Stake in Primerica, Inc. $PRI

Geode Capital Management LLC boosted its position in shares of Primerica, Inc. (NYSE:PRI) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 793,389 shares of the financial services provider’s stock after acquiring an additional 37,014 shares during the period. Geode Capital Management LLC’s holdings in Primerica were worth $205,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Primerica by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock worth $170,248,000 after acquiring an additional 2,525 shares during the last quarter. First Trust Advisors LP raised its position in shares of Primerica by 12.4% during the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after buying an additional 54,158 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Primerica by 25.5% during the third quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock valued at $96,089,000 after buying an additional 70,510 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Primerica by 2.6% during the third quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock valued at $71,278,000 after buying an additional 6,623 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Primerica by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 216,312 shares of the financial services provider’s stock valued at $56,150,000 after buying an additional 31,876 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Down 2.6%

Shares of Primerica stock opened at $259.76 on Wednesday. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 10.89 and a beta of 0.88. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03. The firm’s 50-day moving average price is $268.46 and its two-hundred day moving average price is $262.03.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.02 earnings per share. As a group, equities research analysts predict that Primerica, Inc. will post 24.45 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 21st will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica’s dividend payout ratio is currently 20.13%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Morgan Stanley upped their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $297.80.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

Primerica Profile

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.