UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Primerica, Inc. $PRI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Primerica, Inc. (NYSE:PRI) by 33.9% during the 2nd quarter, Holdings Channel reports. The firm owned 93,371 shares of the financial services provider’s stock after selling 47,991 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Primerica were worth $26,536,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PRI. SJS Investment Consulting Inc. lifted its stake in shares of Primerica by 176.2% in the 1st 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 during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Primerica during the second quarter worth $29,000. Root Financial Partners LLC boosted its stake in shares of Primerica by 52.6% during 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 during the period. Smartleaf Asset Management LLC grew its holdings in shares of Primerica by 68.9% in 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 last quarter. Finally, Steph & Co. lifted its holdings in Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock valued at $49,000 after buying an additional 54 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of Primerica stock opened at $298.62 on Friday. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 11.99 and a beta of 0.86. The firm’s 50-day moving average is $305.63 and its two-hundred day moving average is $280.09. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating 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 business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the previous year, the business posted $5.46 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that Primerica, Inc. will post 25.2 earnings per share for the current year.

Primerica Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial restated a “hold” rating and issued a $320.00 target price (down from $370.00) on shares of Primerica in a research note on Thursday, August 27th. TD Cowen lifted their price target 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 boosted their price target on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a report on Monday, August 24th. Jefferies Financial Group increased their price objective on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $315.57.

Insiders Place Their Bets

In other Primerica news, CEO Glenn Williams sold 1,500 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer owned 32,196 shares of the company’s stock, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber 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 value of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares in the company, valued at $1,113,072.87. This represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,079 shares of company stock worth $1,551,308 over the last 90 days. Company insiders own 0.63% of the company’s stock.

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.