Livforsakringsbolaget Skandia Omsesidigt Makes New $4.29 Million Investment in Primerica, Inc. $PRI

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,100 shares of the financial services provider’s stock, valued at approximately $4,291,000.

A number of other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. raised its stake in shares of Primerica by 176.2% in 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 last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Primerica in the second quarter valued at approximately $29,000. Root Financial Partners LLC increased its holdings in Primerica by 52.6% in the 1st 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 period. Smartleaf Asset Management LLC increased its holdings in Primerica by 68.9% in 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. Finally, Steph & Co. increased its holdings in Primerica by 38.0% in 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. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the company’s 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 completion of the transaction, the director directly owned 3,549 shares in the company, valued at approximately $1,113,072.87. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares in the company, valued at approximately $10,309,159.20. This trade represents a 4.45% 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 in the last three months. 0.63% of the stock is currently owned by company insiders.

Primerica Stock Performance

PRI opened at $289.86 on Friday. The company has a fifty day moving average of $304.77 and a two-hundred day moving average of $278.97. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 11.64 and a beta of 0.87.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $5.46 EPS. On average, equities research analysts forecast that Primerica, Inc. will post 25.09 earnings per share for the current year.

Primerica Announces Dividend

The firm 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 $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s payout ratio is 19.28%.

Wall Street Analyst Weigh In

Several analysts have commented on PRI shares. TD Cowen lifted their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Truist Financial reaffirmed a “hold” rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday. Finally, Morgan Stanley increased their price target on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $315.57.

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.