Royal Bank of Canada Acquires 2,528 Shares of Primerica, Inc. $PRI

Royal Bank of Canada lifted its stake in Primerica, Inc. (NYSE:PRI) by 6.4% during the 1st quarter, HoldingsChannel reports. The fund owned 42,103 shares of the financial services provider’s stock after buying an additional 2,528 shares during the period. Royal Bank of Canada’s holdings in Primerica were worth $10,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can boosted its holdings in Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares during the period. Invesco Ltd. increased its holdings in shares of Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after purchasing an additional 238,571 shares during the period. Life Cycle Investment Partners Ltd bought a new position in shares of Primerica during the 4th quarter worth about $40,714,000. Millennium Management LLC raised its position in shares of Primerica by 183.3% during the fourth quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock valued at $54,823,000 after buying an additional 137,297 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of Primerica in the third quarter valued at about $30,396,000. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

PRI opened at $321.03 on Friday. The company has a fifty day moving average price of $295.47 and a two-hundred day moving average price of $274.70. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The firm has a market capitalization of $10.01 billion, a PE ratio of 12.89 and a beta of 0.87.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company had revenue of $865.07 million for the quarter, compared to the consensus estimate of $881.00 million. During the same quarter in the prior year, the business posted $5.46 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts forecast that Primerica, Inc. will post 24.7 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 21st. Primerica’s dividend payout ratio is currently 19.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Jefferies Financial Group upped their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 24th. Morgan Stanley raised their price target on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Finally, TD Cowen lifted their price objective on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Primerica presently has an average rating of “Hold” and an average target price of $308.67.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

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.