Louisiana State Employees Retirement System Sells 100 Shares of Primerica, Inc. (NYSE:PRI)

Louisiana State Employees Retirement System lowered its holdings in shares of Primerica, Inc. (NYSE:PRI) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,300 shares of the financial services provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Primerica were worth $2,524,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares during the period. Raymond James & Associates boosted its position in Primerica by 4.6% during the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock valued at $32,176,000 after buying an additional 5,323 shares during the period. Los Angeles Capital Management LLC boosted its position in Primerica by 8.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock valued at $28,742,000 after buying an additional 8,641 shares during the period. Prospector Partners LLC boosted its position in Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after buying an additional 210 shares during the period. Finally, Stifel Financial Corp boosted its position in Primerica by 0.5% during the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock valued at $16,965,000 after buying an additional 333 shares during the period. Institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRI shares. TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler dropped their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $304.14.

Primerica Trading Up 2.1 %

NYSE:PRI opened at $284.68 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 21.75 and a beta of 1.11. The company has a 50-day moving average price of $282.68 and a 200-day moving average price of $275.45.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Equities analysts forecast that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be given a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s dividend payout ratio (DPR) is 27.50%.

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.