Capricorn Fund Managers Ltd Buys New Shares in Primerica, Inc. $PRI

Capricorn Fund Managers Ltd bought a new position in Primerica, Inc. (NYSE:PRI) in the 1st quarter, Holdings Channel reports. The fund bought 68,041 shares of the financial services provider’s stock, valued at approximately $17,043,000. Primerica comprises approximately 2.7% of Capricorn Fund Managers Ltd’s holdings, making the stock its 11th biggest position.

Several other hedge funds also recently bought and sold shares of PRI. Vista Investment Partners II LLC purchased a new stake in shares of Primerica during the 4th quarter valued at about $1,685,000. First Trust Advisors LP raised its stake in shares of Primerica by 12.4% in the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after acquiring an additional 54,158 shares during the period. M&T Bank Corp lifted its holdings in shares of Primerica by 1,155.8% in the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after acquiring an additional 29,578 shares during the last quarter. Prana Capital Management LP boosted its stake in shares of Primerica by 22.8% during the 3rd quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock worth $18,575,000 after purchasing an additional 12,432 shares during the period. Finally, Moran Wealth Management LLC grew its holdings in Primerica by 168.6% during the 4th quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock valued at $5,302,000 after purchasing an additional 12,881 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 0.9%

PRI opened at $284.51 on Wednesday. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 11.93 and a beta of 0.88. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $288.03. The business’s fifty day simple moving average is $276.33 and its 200-day simple moving average is $264.97.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. During the same period in the prior year, the firm earned $5.02 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Primerica, Inc. will post 24.45 EPS for the current year.

Primerica Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note 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 lifted their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $297.80.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction dated 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by insiders.

Primerica 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.