WCM Investment Management LLC Has $20.29 Million Holdings in Primerica, Inc. (NYSE:PRI)

11 Nov 2024, 16:50 by Sarita Garza · The Markets Daily

WCM Investment Management LLC lessened its position in shares of Primerica, Inc. (NYSE:PRI – Free Report) by 5.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 77,094 shares of the financial services provider’s stock after selling 4,421 shares during the quarter. WCM Investment Management LLC owned approximately 0.23% of Primerica worth $20,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in shares of Primerica during the 2nd quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. grew its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the period. Blue Trust Inc. grew its position in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Primerica during the 2nd quarter worth approximately $71,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Transactions at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the subject of several recent analyst reports. TD Cowen started coverage on shares of Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective for the company. Morgan Stanley lifted their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler started coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target for the company. Truist Financial lifted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Primerica currently has an average rating of “Hold” and an average price target of $288.33.

Check Out Our Latest Analysis on Primerica

Primerica Stock Up 1.7 %

NYSE:PRI traded up $4.95 during trading hours on Monday, hitting $302.68. 17,283 shares of the company traded hands, compared to its average volume of 154,518. The firm’s 50-day simple moving average is $269.64 and its 200-day simple moving average is $248.67. Primerica, Inc. has a one year low of $184.76 and a one year high of $304.84. The company has a market cap of $10.24 billion, a PE ratio of 23.12 and a beta of 1.08.

Primerica (NYSE:PRI – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period last year, the business earned $4.28 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Primerica, Inc. will post 18.49 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica Company Profile

(Free Report)