Entropy Technologies LP Buys 1,669 Shares of Primerica, Inc. $PRI

Entropy Technologies LP raised its stake in shares of Primerica, Inc. (NYSE:PRI) by 87.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,583 shares of the financial services provider’s stock after purchasing an additional 1,669 shares during the period. Entropy Technologies LP’s holdings in Primerica were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PRI. Vista Investment Partners II LLC bought a new position in shares of Primerica during the 4th quarter valued at approximately $1,685,000. M&T Bank Corp lifted its position in Primerica by 1,155.8% in the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 29,578 shares during the last quarter. Moran Wealth Management LLC lifted its position in Primerica by 168.6% in the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after buying an additional 12,881 shares during the last quarter. Arbejdsmarkedets Tillaegspension purchased a new position in Primerica during the fourth quarter worth $23,767,000. Finally, Jefferies Financial Group Inc. purchased a new position in Primerica during the fourth quarter worth $2,289,000. 90.88% of the stock is owned by institutional investors.

Primerica Stock Performance

Shares of PRI stock opened at $322.56 on Wednesday. The stock has a 50 day moving average price of $288.29 and a 200 day moving average price of $271.63. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $323.45. The firm has a market capitalization of $10.06 billion, a P/E ratio of 13.52 and a beta of 0.88.

Primerica (NYSE:PRI) last announced its quarterly earnings data 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 company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. During the same quarter in the prior year, the company posted $5.02 EPS. Primerica’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Primerica, Inc. will post 24.6 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders 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 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica’s payout ratio is currently 20.13%.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were 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 of the company’s stock, valued at $2,743,548.04. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 business’s 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 completion of the sale, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This trade represents 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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRI. Weiss Ratings upgraded shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday. Morgan Stanley raised their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. TD Cowen lifted their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target 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. Finally, Jefferies Financial Group increased 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. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $308.67.

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.