Livforsakringsbolaget Skandia Omsesidigt Purchases New Position in Primerica, Inc. $PRI

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,100 shares of the financial services provider’s stock, valued at approximately $4,291,000.

Several other institutional investors also recently bought and sold shares of PRI. SJS Investment Consulting Inc. lifted its holdings in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Primerica in the second quarter valued at about $29,000. Root Financial Partners LLC raised its holdings in shares of Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 61 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 acquiring an additional 73 shares during the period. Finally, Steph & Co. lifted its stake in Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 54 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on PRI. TD Cowen raised their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Morgan Stanley boosted their price objective on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Jefferies Financial Group increased their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $315.57.

Insiders Place Their Bets

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the sale, the director owned 3,549 shares of the company’s stock, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the chief executive officer owned 32,196 shares in the company, valued at $10,309,159.20. The trade was a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,079 shares of company stock valued at $1,551,308. 0.63% of the stock is currently owned by corporate insiders.

Primerica Stock Down 0.5%

NYSE:PRI opened at $289.86 on Friday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The firm has a 50 day moving average of $304.77 and a 200 day moving average of $278.97. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 11.64 and a beta of 0.87.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to the consensus estimate of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.46 earnings per share. As a group, analysts expect that Primerica, Inc. will post 25.09 EPS for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be paid a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Primerica’s dividend payout ratio (DPR) is 19.28%.

About Primerica

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.