Curated Wealth Partners LLC Buys New Position in Primerica, Inc. $PRI

Curated Wealth Partners LLC bought a new stake in shares of Primerica, Inc. (NYSE:PRI) in the third quarter, HoldingsChannel reports. The institutional investor bought 3,490 shares of the financial services provider’s stock, valued at approximately $951,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRI. BlackRock Inc. bought a new position in Primerica in the second quarter worth approximately $848,161,000. Bamco Inc. NY purchased a new position in shares of Primerica during the 2nd quarter worth $190,827,000. Dimensional Fund Advisors LP boosted its stake in shares of Primerica by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock worth $162,950,000 after acquiring an additional 7,628 shares during the last quarter. First Trust Advisors LP grew its position in shares of Primerica by 4.7% during the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock valued at $132,556,000 after acquiring an additional 23,850 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Primerica during the 2nd quarter valued at $79,044,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Up 1.0%

Shares of NYSE:PRI opened at $281.02 on Friday. The stock has a 50 day moving average of $290.19 and a 200 day moving average of $286.06. The company has a market cap of $8.65 billion, a PE ratio of 11.21 and a beta of 0.88. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $327.28.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (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 company had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. During the same period in the prior year, the firm posted $5.46 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Primerica, Inc. will post 25.23 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 21st were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Primerica’s payout ratio is currently 19.28%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn Williams sold 1,500 shares of the company’s stock in a transaction that occurred on 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 directly owned 32,196 shares in the company, valued at $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,579 shares of company stock valued at $1,130,573 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen upped their price objective on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings cut Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their target price on Primerica from $335.00 to $330.00 and set a “market perform” rating on the stock in a research report on Friday, October 9th. Jefferies Financial Group lifted their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Truist Financial reissued a “hold” rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus target price of $318.80.

About Primerica

Primerica, Inc is a financial services company that helps middle-income families in the United States and Canada address their insurance, investment and financial planning needs. The company primarily distributes its products through a network of independent representatives who provide educational and financial guidance to clients.

Primerica’s offerings include term life insurance, investment and savings products, retirement solutions, annuities and other financial services. Through its affiliated businesses and representatives, the company also provides access to products and services designed to help clients manage debt and pursue long-term financial goals.

The company was founded in 1977 as A.L.