Sei Investments Co. Boosts Stock Position in Primerica, Inc. (NYSE:PRI)

Sei Investments Co. raised its holdings in shares of Primerica, Inc. (NYSE:PRI) by 19.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,300 shares of the financial services provider’s stock after purchasing an additional 8,227 shares during the period. Sei Investments Co.’s holdings in Primerica were worth $12,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC bought a new position in shares of Primerica during the second quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. raised its holdings in Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 148 shares in the last quarter. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 60 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Primerica during the 2nd quarter valued at about $71,000. Finally, O Dell Group LLC purchased a new position in shares of Primerica during the fourth quarter valued at about $153,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 1.3 %

Shares of Primerica stock opened at $263.12 on Friday. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $267.92. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 16.17 and a beta of 1.09. The company’s 50 day moving average is $255.46 and its 200 day moving average is $240.50.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same period last year, the firm posted $3.99 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts expect that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were given a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 1.37%. Primerica’s dividend payout ratio (DPR) is presently 21.91%.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $1,657,015 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PRI. Piper Sandler began coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Truist Financial upped their price target on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. 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. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley lifted their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average price target of $275.20.

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.