Westfield Capital Management Co. LP Lowers Position in Primerica, Inc. $PRI

Westfield Capital Management Co. LP cut its holdings in Primerica, Inc. (NYSE:PRI) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,597 shares of the financial services provider’s stock after selling 22,177 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.73% of Primerica worth $60,610,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PRI. Smartleaf Asset Management LLC lifted its position in shares of Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after buying an additional 69 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the fourth quarter valued at about $30,000. Torren Management LLC purchased a new stake in shares of Primerica during the fourth quarter valued at about $50,000. Hantz Financial Services Inc. lifted its position in shares of Primerica by 620.0% during the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock valued at $60,000 after buying an additional 186 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Primerica during the fourth quarter valued at about $67,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their position. 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. Company insiders own 0.63% of the company’s stock.

Primerica Stock Up 3.2%

PRI opened at $266.25 on Friday. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $288.03. The company has a market cap of $8.30 billion, a P/E ratio of 11.16 and a beta of 0.88. The firm’s 50-day moving average price is $269.29 and its 200-day moving average price is $262.10.

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

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, May 21st. Primerica’s dividend payout ratio is 20.13%.

Wall Street Analyst Weigh In

Several research firms have commented on PRI. Keefe, Bruyette & Woods increased their price target 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. 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 report on Thursday, May 21st. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $297.80.

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.