JLB & Associates Inc. Makes New Investment in Primerica, Inc. $PRI

JLB & Associates Inc. purchased a new position in Primerica, Inc. (NYSE:PRI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,644 shares of the financial services provider’s stock, valued at approximately $5,014,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp boosted its holdings in Primerica by 1,155.8% in the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 29,578 shares during the period. Arbejdsmarkedets Tillaegspension bought a new stake in Primerica during the fourth quarter valued at about $23,767,000. Jefferies Financial Group Inc. bought a new stake in Primerica during the fourth quarter valued at about $2,289,000. Oxbow Advisors LLC purchased a new position in shares of Primerica in the fourth quarter valued at about $3,170,000. Finally, Life Cycle Investment Partners Ltd purchased a new position in shares of Primerica in the fourth quarter valued at about $40,714,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PRI. TD Cowen increased their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Morgan Stanley upped their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $310.67.

Primerica Stock Performance

Shares of PRI opened at $308.20 on Wednesday. The stock has a market capitalization of $9.49 billion, a PE ratio of 12.38 and a beta of 0.87. The company’s fifty day moving average is $302.22 and its 200 day moving average is $277.39. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28.

Primerica (NYSE:PRI) last released its quarterly earnings data 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 last year, the business earned $5.46 earnings per share. Primerica’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts forecast that Primerica, Inc. will post 25.02 earnings per share for the current year.

Primerica Announces Dividend

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 given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica’s dividend payout ratio is currently 19.28%.

Insider Activity

In related news, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the transaction, 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 is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction dated Tuesday, August 11th. The stock was 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 of the company’s stock, valued at approximately $1,113,072.87. This represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is currently owned by corporate insiders.

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.