Brave Warrior Advisors LLC Has $209.02 Million Stock Position in Primerica, Inc. $PRI

Brave Warrior Advisors LLC reduced its stake in shares of Primerica, Inc. (NYSE:PRI) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 752,989 shares of the financial services provider’s stock after selling 71,003 shares during the quarter. Primerica accounts for approximately 4.9% of Brave Warrior Advisors LLC’s holdings, making the stock its 11th biggest position. Brave Warrior Advisors LLC’s holdings in Primerica were worth $209,022,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in shares of Primerica during the 3rd quarter worth about $27,000. Smartleaf Asset Management LLC lifted its stake in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after buying an additional 69 shares during the period. Quent Capital LLC bought a new stake in shares of Primerica in the third quarter valued at about $33,000. Hantz Financial Services Inc. grew its position in Primerica by 620.0% during the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after buying an additional 186 shares in the last quarter. Finally, MAI Capital Management increased its stake in Primerica by 160.9% during the second quarter. MAI Capital Management now owns 227 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 140 shares during the period. 90.88% of the stock is owned by institutional investors.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This represents a 8.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the transaction, the president directly owned 11,611 shares of the company’s stock, valued at approximately $2,930,384.18. The trade was a 13.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on PRI shares. Morgan Stanley cut their price target on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $298.60.

Primerica Stock Up 0.0%

NYSE PRI opened at $249.14 on Friday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $296.00. The stock has a market cap of $7.89 billion, a P/E ratio of 10.87 and a beta of 0.92. The company’s 50-day simple moving average is $259.90 and its 200 day simple moving average is $262.54.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The firm had revenue of $853.51 million during the quarter, compared to analysts’ expectations of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.03 earnings per share. Research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 19th that permits the company to buyback $475.00 million in shares. This buyback authorization permits the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were given a dividend of $1.20 per share. This is a boost from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date was Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Primerica’s dividend payout ratio is 20.93%.

Primerica Company 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.