Lyrical Asset Management LP Has $159.48 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Lyrical Asset Management LP decreased its stake in shares of Primerica, Inc. (NYSE:PRI) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 587,567 shares of the financial services provider’s stock after selling 14,774 shares during the period. Primerica accounts for approximately 2.4% of Lyrical Asset Management LP’s holdings, making the stock its 20th biggest holding. Lyrical Asset Management LP owned about 1.76% of Primerica worth $159,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PRI. Raymond James Financial Inc. bought a new position in shares of Primerica in the fourth quarter worth about $34,191,000. Geode Capital Management LLC increased its holdings in shares of Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares in the last quarter. California Public Employees Retirement System raised its position in Primerica by 59.4% in the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider’s stock worth $30,323,000 after purchasing an additional 41,612 shares during the last quarter. SVB Wealth LLC acquired a new position in Primerica during the 4th quarter worth $10,703,000. Finally, Strategic Financial Concepts LLC bought a new position in Primerica in the 4th quarter valued at $8,767,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PRI. Keefe, Bruyette & Woods boosted their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Morgan Stanley dropped their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $309.86.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Primerica Price Performance

Shares of PRI stock opened at $248.16 on Friday. The stock has a 50-day moving average of $284.91 and a 200-day moving average of $282.56. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The stock has a market cap of $8.25 billion, a PE ratio of 18.05 and a beta of 1.12.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.68%. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s payout ratio is presently 30.25%.

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.