First Trust Advisors LP Buys 23,850 Shares of Primerica, Inc. $PRI

First Trust Advisors LP boosted its stake in Primerica, Inc. (NYSE:PRI) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 529,207 shares of the financial services provider’s stock after buying an additional 23,850 shares during the period. First Trust Advisors LP’s holdings in Primerica were worth $132,556,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. SJS Investment Consulting Inc. grew its holdings in shares of Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the 4th quarter valued at approximately $30,000. Root Financial Partners LLC lifted its stake in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Finally, Steph & Co. boosted its position in shares of Primerica by 38.0% during the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 54 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Stock Performance

NYSE PRI opened at $307.95 on Friday. The business’s fifty day moving average is $285.91 and its 200 day moving average is $270.43. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $317.69. The company has a market capitalization of $9.60 billion, a PE ratio of 12.91 and a beta of 0.88.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.02 earnings per share. On average, sell-side analysts forecast that Primerica, Inc. will post 24.54 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio is presently 20.13%.

Wall Street Analyst Weigh In

PRI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. TD Cowen lifted their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Jefferies Financial Group increased their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $308.67.

Insider Activity

In related news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the sale, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company’s stock.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.