VIRGINIA RETIREMENT SYSTEMS ET Al Takes $4.42 Million Position in Primerica, Inc. $PRI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,534 shares of the financial services provider’s stock, valued at approximately $4,415,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Primerica as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its stake in Primerica by 18.1% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 39 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Primerica by 1.1% during the 1st quarter. Pacer Advisors Inc. now owns 3,790 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 40 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Primerica by 1.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 45 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Primerica by 0.7% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 46 shares in the last quarter. Finally, Steph & Co. lifted its position 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 last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PRI. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Morgan Stanley upped their price objective on shares of Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. TD Cowen increased their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Truist Financial reissued a “hold” rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a research note on Thursday, August 27th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $315.57.

Insider Buying and Selling at Primerica

In other news, Director Amber Cottle sold 279 shares of the stock in a transaction dated 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 sale, 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 document filed with the SEC, which is accessible through this hyperlink. Also, President Peter Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the sale, the president directly owned 8,011 shares in the company, valued at $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is currently owned by company insiders.

Primerica Stock Performance

NYSE:PRI opened at $288.25 on Thursday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The firm has a market cap of $8.87 billion, a PE ratio of 11.58 and a beta of 0.86. The business has a 50 day moving average price of $306.11 and a 200-day moving average price of $281.09.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 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 for the quarter, compared to the consensus estimate of $881.00 million. During the same period in the previous year, the firm earned $5.46 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts predict that Primerica, Inc. will post 25.2 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders 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 presently 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.