Danske Bank A S Purchases New Position in Primerica, Inc. $PRI

Danske Bank A S acquired a new stake in Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,172 shares of the financial services provider’s stock, valued at approximately $4,312,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRI. SJS Investment Consulting Inc. raised its stake in shares of Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares during the period. Root Financial Partners LLC grew its holdings in 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 purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after buying an additional 73 shares during the period. Torren Management LLC purchased a new stake in Primerica during the 4th quarter worth $50,000. Finally, Steph & Co. increased its stake in Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity at Primerica

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the sale, the director owned 3,549 shares in the company, valued at $1,113,072.87. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president owned 8,011 shares in the company, valued at $2,504,639.15. The trade was a 18.35% 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. Insiders sold a total of 5,079 shares of company stock valued at $1,551,308 over the last three months. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRI. Jefferies Financial Group upped their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. TD Cowen boosted their price target on 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 increased their price target on Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley increased their price target on 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $310.67.

Primerica Price Performance

NYSE PRI opened at $294.95 on Friday. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 11.85 and a beta of 0.87. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28. The company’s fifty day moving average price is $303.34 and its two-hundred day moving average price is $278.03.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.38. The company had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.46 EPS. As a group, analysts anticipate that Primerica, Inc. will post 25.02 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s payout ratio is currently 19.28%.

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.