Primerica, Inc. $PRI Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in Primerica, Inc. (NYSE:PRI) by 5.3% in the first quarter, Holdings Channel.com reports. The firm owned 76,543 shares of the financial services provider’s stock after selling 4,311 shares during the quarter. California Public Employees Retirement System’s holdings in Primerica were worth $19,172,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in Primerica during the fourth quarter worth approximately $30,000. SJS Investment Consulting Inc. grew its holdings in Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after buying an additional 74 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 73 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in shares of Primerica in the 4th quarter worth $50,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Down 1.6%

PRI stock opened at $307.95 on Friday. The business has a fifty day moving average of $285.91 and a two-hundred day moving average of $270.43. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 12.91 and a beta of 0.88. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $317.69.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same quarter in the prior year, the company posted $5.02 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Primerica, Inc. will post 24.54 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, May 21st. Primerica’s payout ratio is 20.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PRI. Morgan Stanley boosted their price target on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. 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 report on Friday, July 10th. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $305.00 to $323.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $308.67.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their position. 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 currently owned by insiders.

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.