Vest Financial LLC Increases Stake in Primerica, Inc. $PRI

Vest Financial LLC boosted its position in shares of Primerica, Inc. (NYSE:PRI) by 23.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,170 shares of the financial services provider’s stock after purchasing an additional 2,920 shares during the quarter. Vest Financial LLC’s holdings in Primerica were worth $4,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilltop National Bank bought a new position in Primerica during the 2nd quarter valued at about $31,000. AdvisorNet Financial Inc increased 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 worth $41,000 after acquiring an additional 77 shares in the last quarter. Headlands Technologies LLC grew its holdings in Primerica by 2,300.0% during the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock valued at $48,000 after buying an additional 161 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Primerica during the 1st quarter valued at approximately $64,000. Finally, Golden State Wealth Management LLC grew its holdings in Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock valued at $72,000 after buying an additional 130 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of PRI stock opened at $266.40 on Tuesday. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 13.16 and a beta of 0.97. The stock’s 50-day simple moving average is $269.88 and its 200-day simple moving average is $266.98.

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

Primerica Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRI. Piper Sandler set a $292.00 price target on shares of Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Jefferies Financial Group lowered their price target on Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Morgan Stanley decreased their target price on Primerica from $308.00 to $306.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. Finally, BMO Capital Markets upgraded Primerica from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $292.00 to $318.00 in a report on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.86.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the transaction, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.