Legal & General Group Plc Takes $12.05 Million Position in Primerica, Inc. $PRI

Legal & General Group Plc purchased a new stake in Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 42,397 shares of the financial services provider’s stock, valued at approximately $12,049,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Primerica in the second quarter worth $848,161,000. Bank of Montreal Can boosted its position in shares of Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after purchasing an additional 1,287,243 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Primerica by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after purchasing an additional 37,014 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Primerica by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock worth $162,950,000 after purchasing an additional 7,628 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Primerica by 4.7% during the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock worth $132,556,000 after purchasing an additional 23,850 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRI has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Jefferies Financial Group increased their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, TD Cowen boosted their price target on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $315.57.

Primerica Stock Down 1.1%

PRI opened at $287.14 on Tuesday. The firm has a market cap of $8.84 billion, a P/E ratio of 11.53 and a beta of 0.87. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The business’s fifty day simple moving average is $304.92 and its 200 day simple moving average is $279.20.

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

Primerica Dividend Announcement

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

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at approximately $10,309,159.20. The trade was a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares of the company’s stock, valued at $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,079 shares of company stock valued at $1,551,308 over the last 90 days. 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.