Corient Private Wealth LLC Has $3.24 Million Position in Primerica, Inc. $PRI

Corient Private Wealth LLC increased its stake in shares of Primerica, Inc. (NYSE:PRI) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,534 shares of the financial services provider’s stock after buying an additional 3,179 shares during the quarter. Corient Private Wealth LLC’s holdings in Primerica were worth $3,238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PRI. Caitong International Asset Management Co. Ltd grew its holdings in shares of Primerica by 10,300.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 312 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 309 shares in the last quarter. Kera Capital Partners Inc. bought a new position in shares of Primerica in the fourth quarter worth $394,000. Virtu Financial LLC acquired a new position in Primerica in the fourth quarter valued at about $387,000. Invesco Ltd. raised its stake in Primerica by 200.3% in the fourth 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 in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in Primerica by 0.7% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 46 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Up 0.8%

Shares of PRI stock opened at $283.73 on Friday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $288.03. The company has a market cap of $8.85 billion, a P/E ratio of 11.90 and a beta of 0.88. The business has a fifty day simple moving average of $275.84 and a 200 day simple moving average of $264.44.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.02 earnings per share. As a group, equities research analysts anticipate that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Primerica’s payout ratio is 20.13%.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the business’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 approximately $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. The trade was a 15.50% 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. 0.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on PRI. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, 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 research report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $297.80.

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.