Blair William & Co. IL Raises Holdings in Primerica, Inc. $PRI

Blair William & Co. IL boosted its position in Primerica, Inc. (NYSE:PRI) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,864 shares of the financial services provider’s stock after acquiring an additional 446 shares during the period. Blair William & Co. IL’s holdings in Primerica were worth $3,247,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in Primerica in the 2nd quarter valued at $31,000. AdvisorNet Financial Inc raised its holdings in Primerica by 108.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 77 shares during the last quarter. Headlands Technologies LLC raised its holdings in Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 161 shares during the last quarter. Summit Securities Group LLC acquired a new position in Primerica in the 1st quarter valued at $64,000. Finally, Golden State Wealth Management LLC raised its holdings in Primerica by 105.7% in the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 130 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Trading Up 0.1%

Shares of Primerica stock opened at $266.40 on Tuesday. The company has a fifty day moving average price of $269.88 and a 200 day moving average price of $266.98. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 13.16 and a beta of 0.97.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm had revenue of $796.02 million during the quarter, compared to analysts’ expectations of $790.99 million. During the same period in the prior year, the company earned $4.71 EPS. The firm’s revenue was up .3% on a year-over-year basis. Analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 22nd. Primerica’s dividend payout ratio is 20.55%.

Analysts Set New Price Targets

Several research analysts have weighed in on PRI shares. Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Primerica in a research note on Wednesday, October 8th. Jefferies Financial Group lowered their price objective on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research note on Monday, August 11th. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.86.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the sale, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.