AGF Management Ltd. Sells 693 Shares of Primerica, Inc. (NYSE:PRI)

AGF Management Ltd. cut its stake in Primerica, Inc. (NYSE:PRI) by 0.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664,483 shares of the financial services provider’s stock after selling 693 shares during the quarter. Primerica comprises about 0.9% of AGF Management Ltd.’s holdings, making the stock its 27th biggest holding. AGF Management Ltd. owned about 1.93% of Primerica worth $157,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC bought a new position in Primerica in the 2nd quarter worth $30,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 148 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Primerica in the 1st quarter worth about $163,000. Finally, O Dell Group LLC bought a new position in shares of Primerica in the 4th quarter worth about $153,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

Shares of PRI stock opened at $252.94 on Wednesday. Primerica, Inc. has a one year low of $184.76 and a one year high of $265.27. The company’s 50-day moving average is $251.13 and its 200 day moving average is $239.47. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 15.39 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. Primerica’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.99 EPS. As a group, research analysts predict that Primerica, Inc. will post 17.94 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is presently 21.91%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st. Piper Sandler assumed coverage on shares of Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target for the company. Truist Financial increased their price target on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group increased their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $275.20.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock valued at $1,817,595 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Primerica Company Profile

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.