NewEdge Wealth LLC Sells 1,805 Shares of Primerica, Inc. $PRI

NewEdge Wealth LLC cut its stake in Primerica, Inc. (NYSE:PRI) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,312 shares of the financial services provider’s stock after selling 1,805 shares during the period. NewEdge Wealth LLC’s holdings in Primerica were worth $3,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the 4th quarter worth $30,000. SJS Investment Consulting Inc. raised its stake in Primerica by 176.2% in 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 in the last quarter. Root Financial Partners LLC raised its stake in Primerica by 52.6% in the first 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 lifted its position in Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 73 shares during the period. Finally, Torren Management LLC bought a new stake in Primerica during the fourth quarter worth about $50,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PRI shares. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Morgan Stanley boosted their target price 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 upped their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. TD Cowen increased their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $308.67.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president directly owned 9,811 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred on Friday, June 12th. The stock was 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 in the company, valued at $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by company insiders.

Primerica Stock Up 1.9%

Shares of PRI opened at $314.13 on Friday. The stock has a market cap of $9.79 billion, a PE ratio of 13.17 and a beta of 0.88. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $317.69. The business has a 50-day simple moving average of $286.72 and a two-hundred day simple moving average of $270.74.

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 analysts’ consensus estimates of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $5.02 earnings per share. On average, equities research analysts expect that Primerica, Inc. will post 24.6 EPS for the current year.

Primerica Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is 20.13%.

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.