Callan Family Office LLC purchased a new stake in shares of Primerica, Inc. (NYSE:PRI – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 31,017 shares of the financial services provider’s stock, valued at approximately $8,815,000.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Primerica in the 2nd quarter worth approximately $848,161,000. Bank of Montreal Can increased its holdings 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 valued at $338,874,000 after purchasing an additional 1,287,243 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Primerica during the 2nd quarter valued at approximately $79,044,000. Invesco Ltd. lifted its stake in shares of Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after purchasing an additional 238,571 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new position in shares of Primerica in the 4th quarter valued at $40,714,000. 90.88% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Primerica
In other news, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the sale, the president owned 8,011 shares of the company’s stock, valued at $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the transaction, the chief executive officer owned 32,196 shares of the company’s stock, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,079 shares of company stock valued at $1,551,308 over the last ninety days. Corporate insiders own 0.63% of the company’s stock.
Primerica Price Performance
Primerica (NYSE:PRI – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The firm had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. During the same quarter last year, the company earned $5.46 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts anticipate that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.
Primerica Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s dividend payout ratio (DPR) is presently 19.28%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on PRI shares. Morgan Stanley increased their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. TD Cowen upped their price objective on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group increased their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings cut Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and a consensus target price of $310.67.
Get Our Latest Analysis on PRI
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.
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