NewEdge Wealth LLC Makes New Investment in Primerica, Inc. $PRI

NewEdge Wealth LLC acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, Holdings Channel reports. The fund acquired 15,343 shares of the financial services provider’s stock, valued at approximately $4,360,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its holdings in shares of Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares in the last quarter. Root Financial Partners LLC increased its position 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 last quarter. Smartleaf Asset Management LLC raised its stake in 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. Steph & Co. raised its stake in 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. Finally, Torren Management LLC bought a new position in Primerica during the fourth quarter valued at $50,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

Primerica stock opened at $300.70 on Thursday. The firm has a market capitalization of $9.26 billion, a P/E ratio of 12.08 and a beta of 0.87. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $327.28. The company’s 50-day moving average is $302.69 and its 200 day moving average is $277.67.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.46 earnings per share. Research analysts anticipate that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s dividend payout ratio (DPR) is currently 19.28%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group upped their target price 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. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Morgan Stanley lifted their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Primerica currently has a consensus rating of “Hold” and an average target price of $310.67.

Insider Activity at Primerica

In related news, Director Amber Lynne Cottle sold 279 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares in the company, valued at $1,113,072.87. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction 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 completion of the transaction, the president directly owned 8,011 shares in the company, valued at $2,504,639.15. This trade represents a 18.35% 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. Insiders sold a total of 5,079 shares of company stock worth $1,551,308 in the last quarter. 0.63% of the stock is owned by company insiders.

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.