Westfield Capital Management Co. LP Has $71.28 Million Stock Holdings in Primerica, Inc. $PRI

Westfield Capital Management Co. LP lifted its position in Primerica, Inc. (NYSE:PRI) by 2.6% during the 3rd quarter, Holdings Channel reports. The firm owned 256,774 shares of the financial services provider’s stock after buying an additional 6,623 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Primerica were worth $71,278,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Primerica in the third quarter valued at about $27,000. Smartleaf Asset Management LLC raised its stake in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 69 shares during the last quarter. Quent Capital LLC bought a new position in shares of Primerica in the third quarter valued at approximately $33,000. First Horizon Advisors Inc. boosted its holdings in shares of Primerica by 1,714.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Primerica by 620.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 186 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PRI. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. TD Cowen restated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Morgan Stanley set a $292.00 target price on shares of Primerica in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $300.00.

Primerica Stock Up 1.1%

Shares of PRI opened at $255.53 on Thursday. The stock’s fifty day simple moving average is $260.80 and its 200-day simple moving average is $263.26. The firm has a market capitalization of $8.16 billion, a PE ratio of 11.14 and a beta of 0.91. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $296.00.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The firm had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same period last year, the company earned $5.03 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Monday, February 23rd. Primerica’s payout ratio is presently 20.93%.

Primerica announced that its board has approved a share repurchase plan on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Joel M. Babbit sold 700 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total value of $178,500.00. Following the transaction, the director directly owned 8,400 shares in the company, valued at $2,142,000. This represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Primerica Company 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.