&Partners Buys New Stake in Primerica, Inc. (NYSE:PRI)

&Partners purchased a new position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,687 shares of the financial services provider’s stock, valued at approximately $399,000.

A number of other institutional investors have also modified their holdings of PRI. International Assets Investment Management LLC raised its position in Primerica by 20,472.7% during the fourth quarter. International Assets Investment Management LLC now owns 2,263 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 2,252 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Primerica in the 4th quarter valued at $133,000. Atria Wealth Solutions Inc. boosted its holdings in Primerica by 10.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,409 shares of the financial services provider’s stock worth $290,000 after buying an additional 130 shares in the last quarter. Russell Investments Group Ltd. grew its position in Primerica by 20.7% during the fourth quarter. Russell Investments Group Ltd. now owns 30,358 shares of the financial services provider’s stock valued at $6,247,000 after buying an additional 5,202 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Primerica by 37.4% in the fourth quarter. Van ECK Associates Corp now owns 9,161 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 2,494 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of NYSE:PRI opened at $261.34 on Friday. The business’s 50 day moving average price is $245.49 and its 200-day moving average price is $238.11. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $263.14. The firm has a market capitalization of $8.99 billion, a PE ratio of 15.91 and a beta of 1.09.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.99 earnings per share. As a group, analysts expect that Primerica, Inc. will post 17.92 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, August 21st. Primerica’s dividend payout ratio (DPR) is 21.91%.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the sale, the chief executive officer now owns 48,322 shares of the company’s stock, valued at $10,764,208.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PRI shares. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group raised their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Truist Financial upped their target price on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $273.25.

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.