Apollon Wealth Management LLC Takes Position in Primerica, Inc. (NYSE:PRI)

Apollon Wealth Management LLC purchased a new stake in shares of Primerica, Inc. (NYSE:PRI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,612 shares of the financial services provider’s stock, valued at approximately $743,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after purchasing an additional 236,051 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Primerica by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 332,340 shares of the financial services provider’s stock valued at $64,477,000 after purchasing an additional 3,066 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Primerica by 47.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock worth $25,840,000 after purchasing an additional 40,647 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Primerica by 86.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock worth $23,010,000 after purchasing an additional 55,076 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of Primerica by 0.3% in the 3rd quarter. Natixis Advisors L.P. now owns 115,839 shares of the financial services provider’s stock worth $22,474,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the transaction, the director now owns 16,467 shares in the company, valued at $4,100,283. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the transaction, the director now owns 16,467 shares in the company, valued at $4,100,283. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total value 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. Over the last quarter, insiders have sold 6,708 shares of company stock worth $1,648,677. 0.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PRI has been the topic of several recent research reports. Raymond James lowered shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods boosted their target price on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Truist Financial increased their price target on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley raised their target price on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and an average price target of $245.50.

Primerica Trading Up 1.5 %

Shares of PRI stock opened at $223.76 on Friday. Primerica, Inc. has a 1-year low of $178.06 and a 1-year high of $256.56. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 13.62 and a beta of 1.10. The stock’s fifty day simple moving average is $235.06 and its 200-day simple moving average is $223.61.

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 analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The business had revenue of $742.83 million for the quarter, compared to analysts’ expectations of $740.57 million. During the same quarter in the prior year, the firm posted $3.49 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts predict that Primerica, Inc. will post 17.61 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st will be issued 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 dividend yield of 1.34%. Primerica’s dividend payout ratio is 18.26%.

About Primerica

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.