Primerica, Inc. (NYSE:PRI) is Quantum Capital Management LLC NJ’s 7th Largest Position

Quantum Capital Management LLC NJ lowered its position in Primerica, Inc. (NYSE:PRI) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,092 shares of the financial services provider’s stock after selling 12,899 shares during the quarter. Primerica makes up approximately 7.0% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 7th biggest position. Quantum Capital Management LLC NJ owned about 0.81% of Primerica worth $58,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. lifted its position in Primerica by 110.0% in the second quarter. Raleigh Capital Management Inc. now owns 126 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Primerica during the second quarter valued at approximately $775,000. Covestor Ltd raised its holdings in shares of Primerica by 74.7% during the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 109 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Primerica during the fourth quarter valued at approximately $38,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Primerica by 350.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 329 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 90.56% of the company’s stock.

Primerica Stock Down 1.6 %

Shares of NYSE PRI traded down $3.39 during trading on Monday, reaching $206.17. The company had a trading volume of 40,557 shares, compared to its average volume of 144,911. Primerica, Inc. has a 12-month low of $135.00 and a 12-month high of $220.00. The stock has a market cap of $7.22 billion, a PE ratio of 13.86 and a beta of 1.16. The business’s 50-day moving average is $200.51 and its 200 day moving average is $198.55.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, November 7th. The financial services provider reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.25. Primerica had a return on equity of 28.00% and a net margin of 19.94%. The firm had revenue of $710.90 million for the quarter, compared to analysts’ expectations of $703.50 million. During the same period in the prior year, the firm posted $3.02 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts anticipate that Primerica, Inc. will post 16 earnings per share for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.26%. Primerica’s dividend payout ratio is currently 17.20%.

Insider Transactions at Primerica

In related news, CFO Alison S. Rand sold 3,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $202.26, for a total transaction of $606,780.00. Following the sale, the chief financial officer now directly owns 9,444 shares of the company’s stock, valued at $1,910,143.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Alison S. Rand sold 3,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $202.26, for a total transaction of $606,780.00. Following the sale, the chief financial officer now directly owns 9,444 shares of the company’s stock, valued at $1,910,143.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $201.43, for a total value of $705,005.00. Following the completion of the transaction, the president now directly owns 9,524 shares in the company, valued at $1,918,419.32. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PRI. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial upped their target price on Primerica from $240.00 to $260.00 in a report on Wednesday, August 9th. Jefferies Financial Group decreased their target price on Primerica from $198.00 to $197.00 and set a “hold” rating for the company in a report on Thursday, September 14th. Finally, Morgan Stanley increased their price objective on Primerica from $190.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 15th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Primerica presently has an average rating of “Moderate Buy” and an average target price of $219.20.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.