7,866 Shares in Primerica, Inc. $PRI Purchased by State of Wyoming

State of Wyoming bought a new position in Primerica, Inc. (NYSE:PRI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,866 shares of the financial services provider’s stock, valued at approximately $2,236,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Primerica by 5,277.5% during the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Primerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after purchasing an additional 37,014 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Primerica by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock worth $162,950,000 after purchasing an additional 7,628 shares during the last quarter. First Trust Advisors LP grew its position in Primerica by 4.7% in the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock worth $132,556,000 after purchasing an additional 23,850 shares during the period. Finally, Invesco Ltd. grew its position in Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after purchasing an additional 238,571 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Up 0.2%

PRI stock opened at $313.33 on Friday. The business’s 50-day moving average price is $300.57 and its 200-day moving average price is $276.53. The stock has a market cap of $9.64 billion, a P/E ratio of 12.58 and a beta of 0.87. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. During the same period in the prior year, the firm posted $5.46 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Primerica, Inc. will post 24.85 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be given 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 is Friday, August 21st. Primerica’s dividend payout ratio (DPR) is presently 19.28%.

Insider Activity

In related news, Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total transaction of $87,502.77. Following the transaction, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. The trade was a 7.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $2,743,548.04. This 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 have sold 5,079 shares of company stock worth $1,491,890 in the last three months. Company insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley raised their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group increased their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Primerica has an average rating of “Hold” and an average price target of $310.67.

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.