Meeder Advisory Services Inc. Purchases New Shares in Primerica, Inc. $PRI

Meeder Advisory Services Inc. bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,705 shares of the financial services provider’s stock, valued at approximately $769,000.

A number of other institutional investors also recently bought and sold shares of PRI. SJS Investment Consulting Inc. lifted its stake 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 last quarter. Root Financial Partners LLC increased its stake in Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC increased its stake in Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 73 shares during the period. Steph & Co. lifted 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 worth $49,000 after purchasing an additional 54 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in shares of Primerica during the fourth quarter valued at $50,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

Shares of Primerica stock opened at $298.41 on Friday. The business has a 50-day simple moving average of $303.08 and a 200-day simple moving average of $277.92. The company has a market cap of $9.19 billion, a PE ratio of 11.98 and a beta of 0.87. Primerica, Inc. has a one year low of $230.09 and a one year high of $327.28.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The company had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $5.46 EPS. On average, sell-side analysts predict that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica’s payout ratio is presently 19.28%.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the transaction, the president owned 8,011 shares in the company, valued at approximately $2,504,639.15. This trade represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the transaction, the chief executive officer owned 32,196 shares in the company, valued at approximately $10,309,159.20. This represents a 4.45% decrease in their position. 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. Over the last quarter, insiders sold 5,079 shares of company stock valued at $1,551,308. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TD Cowen lifted their price objective on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. Jefferies Financial Group lifted their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, Morgan Stanley boosted their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $310.67.

Primerica 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.