Vise Technologies Inc. bought a new position in Primerica, Inc. (NYSE:PRI – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,365 shares of the financial services provider’s stock, valued at approximately $1,525,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Primerica during the second quarter valued at about $848,161,000. Bank of Montreal Can increased its stake in shares of Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after purchasing an additional 1,287,243 shares during the period. Geode Capital Management LLC increased its stake in shares of Primerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after purchasing an additional 37,014 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Primerica by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock worth $162,950,000 after purchasing an additional 7,628 shares during the last quarter. Finally, First Trust Advisors LP lifted its position 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 worth $132,556,000 after purchasing an additional 23,850 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.
Insider Buying and Selling at Primerica
In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the sale, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares of the company’s stock, valued at $10,309,159.20. This represents a 4.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,079 shares of company stock valued at $1,551,308 in the last quarter. Corporate insiders own 0.63% of the company’s stock.
Primerica Stock Performance
Primerica (NYSE:PRI – Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. During the same quarter last year, the company earned $5.46 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Equities analysts predict that Primerica, Inc. will post 25.02 EPS for the current year.
Primerica Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio is 19.28%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on PRI shares. TD Cowen increased their target price on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. 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. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods increased their price objective on Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group raised their price objective 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. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $310.67.
About Primerica
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.
Featured Stories
- Five stocks we like better than Primerica
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRI – Free Report).
Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.
