AXS Investments LLC Decreases Holdings in Primerica, Inc. (NYSE:PRI)

AXS Investments LLC lowered its position in Primerica, Inc. (NYSE:PRI) by 63.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445 shares of the financial services provider’s stock after selling 785 shares during the quarter. AXS Investments LLC’s holdings in Primerica were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Commonwealth Equity Services LLC grew its position in Primerica by 3.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,367 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 75 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Primerica in the third quarter worth approximately $645,000. Los Angeles Capital Management LLC increased its stake in shares of Primerica by 44.1% in the third quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock worth $16,479,000 after buying an additional 25,981 shares during the period. AdvisorShares Investments LLC bought a new stake in Primerica during the 3rd quarter valued at $393,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Primerica by 144.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 803 shares of the financial services provider’s stock valued at $156,000 after buying an additional 474 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Up 0.9 %

Shares of PRI stock traded up $1.97 during midday trading on Friday, reaching $227.55. 100,003 shares of the stock were exchanged, compared to its average volume of 181,921. Primerica, Inc. has a 1 year low of $180.65 and a 1 year high of $256.56. The firm has a market cap of $7.83 billion, a PE ratio of 13.85 and a beta of 1.10. The company’s 50 day moving average is $230.85 and its two-hundred day moving average is $225.84.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). The firm had revenue of $742.83 million during the quarter, compared to analysts’ expectations of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. Primerica’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.49 earnings per share. As a group, equities analysts expect that Primerica, Inc. will post 17.66 EPS for the current fiscal year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st will be given a dividend of $0.75 per share. The ex-dividend date is Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a yield of 1.32%. Primerica’s dividend payout ratio (DPR) is currently 18.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRI. Morgan Stanley upped their price objective on shares of Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Truist Financial lifted their price objective on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods raised their price target on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and an average target price of $245.50.

Insider Buying and Selling

In other news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the transaction, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the transaction, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the transaction, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The disclosure for this sale can be found here. Insiders have sold 6,993 shares of company stock valued at $1,687,302 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Primerica 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.