Corient Private Wealth LP Takes $6.66 Million Position in Primerica, Inc. $PRI

Corient Private Wealth LP bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,425 shares of the financial services provider’s stock, valued at approximately $6,657,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its holdings in Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 74 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Primerica during the second quarter valued at $29,000. Root Financial Partners LLC grew its position in shares of Primerica by 52.6% in 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 position 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 valued at $47,000 after purchasing an additional 73 shares during the period. Finally, Steph & Co. increased its stake in shares of Primerica by 38.0% during the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Ratings Changes

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

Primerica Trading Down 0.2%

Shares of NYSE PRI opened at $289.86 on Monday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $327.28. The stock has a market cap of $8.92 billion, a PE ratio of 11.64 and a beta of 0.87. The company has a 50-day moving average of $304.77 and a 200 day moving average of $279.05.

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 analysts’ consensus estimates of $6.03 by $0.38. The company had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. Primerica’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.46 EPS. On average, sell-side analysts forecast that Primerica, Inc. will post 25.09 EPS for the current fiscal 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 paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio (DPR) is 19.28%.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 1,500 shares of the company’s 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 sale, the chief executive officer owned 32,196 shares of the company’s stock, valued at approximately $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. 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 transaction of $562,770.00. Following the sale, the president owned 8,011 shares of the company’s stock, valued at approximately $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 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 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.