Jupiter Topco LLC Purchases Shares of 14,029 Primerica, Inc. $PRI

Jupiter Topco LLC acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 14,029 shares of the financial services provider’s stock, valued at approximately $3,989,000.

Other large investors have also recently made changes to their positions in the company. C M Bidwell & Associates Ltd. acquired a new position in shares of Primerica during the second quarter valued at about $29,000. SJS Investment Consulting Inc. raised its holdings in shares of 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 during the last quarter. Root Financial Partners LLC raised its holdings in shares of Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 73 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 valued at $49,000 after acquiring an additional 54 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Primerica Stock Performance

Shares of PRI stock opened at $290.13 on Wednesday. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 11.65 and a beta of 0.86. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $327.28. The company has a 50-day simple moving average of $305.04 and a two-hundred day simple moving average of $279.46.

Primerica (NYSE:PRI) last posted 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 firm had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. During the same quarter last year, the firm earned $5.46 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that Primerica, Inc. will post 25.2 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s dividend payout ratio (DPR) is presently 19.28%.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 business’s stock in a transaction on 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 transaction, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. This represents a 18.35% 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. Over the last three months, insiders have sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is owned by company insiders.

Primerica 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.