Bank of New York Mellon Corp Has $78.68 Million Stake in Primerica, Inc. $PRI

Bank of New York Mellon Corp boosted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 0.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 314,134 shares of the financial services provider’s stock after buying an additional 2,382 shares during the period. Bank of New York Mellon Corp’s holdings in Primerica were worth $78,684,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its position in shares of Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Primerica during the 4th quarter valued at about $30,000. Root Financial Partners LLC increased its holdings in shares of Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 61 shares during the last quarter. Smartleaf Asset Management LLC raised 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 valued at $47,000 after acquiring an additional 73 shares in the last quarter. Finally, Steph & Co. raised its stake in shares of Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 54 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRI shares. Keefe, Bruyette & Woods boosted their target price on Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Jefferies Financial Group increased their price target on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Morgan Stanley lifted 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. Finally, Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $298.40.

Primerica Stock Performance

Primerica stock opened at $309.34 on Wednesday. The business’s 50-day simple moving average is $284.22 and its 200-day simple moving average is $269.70. The firm has a market capitalization of $9.65 billion, a PE ratio of 12.97 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 posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $855.36 million. During the same quarter in the previous year, the firm earned $5.02 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Research analysts forecast that Primerica, Inc. will post 24.54 earnings per share for the current year.

Primerica Announces Dividend

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

Insider Buying and Selling

In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the sale, the chief executive officer directly 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 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 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.