Natixis Advisors LLC Cuts Position in Primerica, Inc. $PRI

Natixis Advisors LLC lowered its holdings in shares of Primerica, Inc. (NYSE:PRI) by 24.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,289 shares of the financial services provider’s stock after selling 25,749 shares during the quarter. Natixis Advisors LLC’s holdings in Primerica were worth $22,010,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Burgundy Asset Management Ltd. increased its position in shares of Primerica by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock valued at $364,932,000 after buying an additional 23,454 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 buying an additional 2,525 shares during the period. First Trust Advisors LP lifted its position in shares of Primerica by 12.4% during the 3rd 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 in the last quarter. Westfield Capital Management Co. LP grew its stake in Primerica by 2.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock valued at $71,278,000 after acquiring an additional 6,623 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in Primerica in the 3rd quarter valued at $51,004,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of PRI opened at $251.33 on Thursday. The stock has a 50 day moving average price of $260.28 and a 200 day moving average price of $262.80. Primerica, Inc. has a one year low of $230.09 and a one year high of $296.00. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 10.96 and a beta of 0.92.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, beating 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 company had revenue of $853.51 million for the quarter, compared to analyst estimates of $839.65 million. During the same quarter last year, the firm posted $5.03 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be given a $1.20 dividend. 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 is Monday, February 23rd. Primerica’s dividend payout ratio (DPR) is currently 20.93%.

Primerica announced that its board has initiated 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 purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PRI shares. Morgan Stanley reduced their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $298.60.

Insider Activity

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