Renaissance Technologies LLC Invests $13.23 Million in Primerica, Inc. $PRI

Renaissance Technologies LLC acquired a new stake in Primerica, Inc. (NYSE:PRI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,820 shares of the financial services provider’s stock, valued at approximately $13,230,000. Renaissance Technologies LLC owned 0.17% of Primerica as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can raised its position in Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after acquiring an additional 1,287,243 shares in the last quarter. Invesco Ltd. boosted its position in shares of Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after purchasing an additional 238,571 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in shares of Primerica in the 4th quarter worth approximately $40,714,000. Millennium Management LLC lifted its stake in Primerica by 183.3% during the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after purchasing an additional 137,297 shares during the last quarter. Finally, Danske Bank A S bought a new stake in Primerica during the third quarter worth approximately $30,396,000. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the company’s 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 transaction, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction 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 of the company’s stock, valued at $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. Insiders own 0.63% of the company’s stock.

Primerica Trading Down 0.8%

Shares of Primerica stock opened at $320.75 on Friday. The stock has a 50-day moving average price of $290.81 and a 200 day moving average price of $272.78. The company has a market cap of $10.00 billion, a P/E ratio of 13.45 and a beta of 0.88. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $326.78.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $5.02 EPS. On average, equities analysts forecast that Primerica, Inc. will post 24.65 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PRI shares. TD Cowen upped their target price on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Jefferies Financial Group lifted their price target on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, July 24th. Morgan Stanley upped their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Primerica from $305.00 to $323.00 and gave the stock 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $308.67.

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.