Great Lakes Advisors LLC Invests $1.27 Million in Primerica, Inc. $PRI

Great Lakes Advisors LLC bought a new stake in Primerica, Inc. (NYSE:PRI) during the second quarter, HoldingsChannel.com reports. The fund bought 4,464 shares of the financial services provider’s stock, valued at approximately $1,269,000.

Other hedge funds have also bought and sold shares of the company. SJS Investment Consulting Inc. grew its holdings in Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 74 shares during the period. Root Financial Partners LLC increased its position in Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after buying an additional 61 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after buying an additional 73 shares during the period. Torren Management LLC bought a new stake in Primerica in the fourth quarter valued at approximately $50,000. Finally, Steph & Co. raised its stake in Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after buying an additional 54 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Morgan Stanley increased their price target on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods raised 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. Weiss Ratings downgraded Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, TD Cowen lifted their price objective on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Primerica has an average rating of “Hold” and an average price target of $310.67.

Insider Activity

In related news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the sale, the president owned 8,011 shares of the company’s stock, valued at $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the transaction, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,079 shares of company stock worth $1,551,308. Corporate insiders own 0.63% of the company’s stock.

Primerica Stock Performance

Shares of Primerica stock opened at $294.95 on Friday. The firm has a 50-day moving average of $303.34 and a 200-day moving average of $278.03. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $327.28. The stock has a market cap of $9.08 billion, a PE ratio of 11.85 and a beta of 0.87.

Primerica (NYSE:PRI) last issued its quarterly earnings data 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 business had revenue of $865.07 million during the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.46 EPS. Equities research analysts predict that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

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.