Sanctuary Advisors LLC Invests $1.10 Million in Primerica, Inc. (NYSE:PRI)

Sanctuary Advisors LLC purchased a new position in Primerica, Inc. (NYSE:PRI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,642 shares of the financial services provider’s stock, valued at approximately $1,098,000.

A number of other institutional investors have also bought and sold shares of the business. Blue Trust Inc. increased its stake in Primerica by 45.5% in 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 in the last quarter. GPS Wealth Strategies Group LLC increased its stake in Primerica by 2.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock worth $625,000 after buying an additional 62 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Primerica by 1.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock worth $1,484,000 after buying an additional 62 shares in the last quarter. Inspire Investing LLC increased its stake in Primerica by 5.4% in the 2nd quarter. Inspire Investing LLC now owns 1,483 shares of the financial services provider’s stock worth $351,000 after buying an additional 76 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Primerica by 0.9% in the 2nd quarter. Blair William & Co. IL now owns 12,265 shares of the financial services provider’s stock worth $2,902,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $1,657,015 over the last ninety days. 0.85% of the stock is owned by company insiders.

Primerica Trading Up 0.9 %

Shares of NYSE:PRI opened at $277.47 on Friday. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 22.22 and a beta of 1.09. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $279.89. The company has a 50-day moving average price of $259.24 and a 200 day moving average price of $241.96.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million for 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%. Primerica’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $3.99 earnings per share. As a group, equities analysts forecast that Primerica, Inc. will post 18.05 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.30%. This is a positive change from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. Primerica’s dividend payout ratio (DPR) is presently 28.82%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler assumed coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target for the company. Jefferies Financial Group increased their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Morgan Stanley increased their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Primerica presently has an average rating of “Hold” and an average price target of $281.67.

Primerica 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.