Quantinno Capital Management LP Purchases 47,147 Shares of Primerica, Inc. $PRI

Quantinno Capital Management LP raised its position in shares of Primerica, Inc. (NYSE:PRIFree Report) by 62.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,988 shares of the financial services provider’s stock after purchasing an additional 47,147 shares during the period. Quantinno Capital Management LP owned approximately 0.39% of Primerica worth $30,806,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PRI. Entropy Technologies LP boosted its holdings in shares of Primerica by 87.2% in the 1st quarter. Entropy Technologies LP now owns 3,583 shares of the financial services provider’s stock worth $897,000 after purchasing an additional 1,669 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Primerica during the 1st quarter valued at about $13,230,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Primerica by 73.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 54,407 shares of the financial services provider’s stock valued at $13,628,000 after buying an additional 22,949 shares in the last quarter. Caxton Associates LLP raised its holdings in shares of Primerica by 23.9% during the 1st quarter. Caxton Associates LLP now owns 8,472 shares of the financial services provider’s stock valued at $2,122,000 after buying an additional 1,632 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings 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 valued at $132,556,000 after buying an additional 23,850 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the subject of several research reports. Weiss Ratings raised Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. TD Cowen lifted their price target 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 boosted their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $305.00 to $323.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Finally, Morgan Stanley upped their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $308.67.

Get Our Latest Analysis on PRI

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company’s stock, valued at $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

Primerica Trading Down 0.8%

PRI opened at $320.75 on Friday. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $326.78. The business’s 50-day moving average price is $290.81 and its 200-day moving average price is $272.78. The company has a market cap of $10.00 billion, a P/E ratio of 13.45 and a beta of 0.88.

Primerica (NYSE:PRIGet Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. During the same period in the prior year, the business posted $5.02 EPS. Primerica’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Primerica, Inc. will post 24.65 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were given a $1.20 dividend. The ex-dividend date was Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 1.5%. Primerica’s payout ratio is presently 20.13%.

Primerica Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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