Primerica, Inc. $PRI Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Primerica, Inc. (NYSE:PRI) by 97.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,861 shares of the financial services provider’s stock after purchasing an additional 2,399 shares during the period. SG Americas Securities LLC’s holdings in Primerica were worth $1,256,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRI. Root Financial Partners LLC acquired a new stake in shares of Primerica in the third quarter valued at approximately $27,000. Smartleaf Asset Management LLC increased its stake in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 69 shares during the period. Quent Capital LLC acquired a new stake in shares of Primerica in the third quarter valued at approximately $33,000. Hantz Financial Services Inc. increased its stake in shares of Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 186 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Primerica by 154.8% in the third quarter. Larson Financial Group LLC now owns 265 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. This trade represents a 13.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the transaction, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This represents a 8.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.61% of the company’s stock.

Primerica Stock Performance

Shares of NYSE:PRI opened at $256.15 on Wednesday. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 11.17 and a beta of 0.90. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03. The company has a 50 day moving average price of $256.09 and a 200 day moving average price of $260.05.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The firm had revenue of $853.51 million during the quarter, compared to analysts’ expectations of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $5.03 earnings per share. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio (DPR) is 20.93%.

Analysts Set New Price Targets

Several brokerages have commented on PRI. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Morgan Stanley dropped their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 3rd. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $290.00 price target on shares of Primerica in a research note on Thursday, March 26th. Finally, TD Cowen reiterated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $293.60.

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.