Inspire Advisors LLC Grows Position in Primerica, Inc. (NYSE:PRI)

Inspire Advisors LLC increased its position in Primerica, Inc. (NYSE:PRI) by 13.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,041 shares of the financial services provider’s stock after purchasing an additional 127 shares during the quarter. Inspire Advisors LLC’s holdings in Primerica were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRI. ORG Partners LLC bought a new position in Primerica during the 2nd quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. increased its position in Primerica by 493.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares in the last quarter. Blue Trust Inc. increased its position in Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Primerica during the 2nd quarter valued at approximately $71,000. Finally, O Dell Group LLC bought a new position in Primerica during the 4th quarter valued at approximately $153,000. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley lifted their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Truist Financial lifted their target price on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods lifted their target price on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $275.20.

Primerica Trading Up 0.5 %

Primerica stock opened at $254.62 on Monday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 15.50 and a beta of 1.09. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $265.27. The stock has a fifty day simple moving average of $252.18 and a two-hundred day simple moving average of $239.61.

Primerica (NYSE:PRI) last released its quarterly 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 firm had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the business posted $3.99 EPS. On average, equities research analysts forecast that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were paid a $0.90 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Wednesday, August 21st. Primerica’s dividend payout ratio (DPR) is 21.91%.

Insider Transactions at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $1,657,015 in the last ninety days. Insiders own 0.85% of the company’s stock.

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.