Moran Wealth Management LLC Makes New $2.12 Million Investment in Primerica, Inc. $PRI

Moran Wealth Management LLC bought a new stake in Primerica, Inc. (NYSE:PRI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,641 shares of the financial services provider’s stock, valued at approximately $2,121,000.

Other large investors have also added to or reduced their stakes in the company. Atria Investments Inc boosted its holdings in Primerica by 27.6% during the 2nd quarter. Atria Investments Inc now owns 12,650 shares of the financial services provider’s stock valued at $3,462,000 after acquiring an additional 2,740 shares during the period. Aviva PLC bought a new stake in Primerica in the second quarter valued at approximately $514,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Primerica by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,366 shares of the financial services provider’s stock valued at $41,930,000 after purchasing an additional 4,687 shares during the period. Entropy Technologies LP purchased a new stake in shares of Primerica during the second quarter valued at approximately $876,000. Finally, Voya Investment Management LLC grew its holdings in shares of Primerica by 72.8% in the first quarter. Voya Investment Management LLC now owns 8,683 shares of the financial services provider’s stock worth $2,471,000 after purchasing an additional 3,657 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of NYSE PRI opened at $267.66 on Friday. The company has a 50 day simple moving average of $257.92 and a two-hundred day simple moving average of $264.67. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $298.75. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 12.30 and a beta of 0.90.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.52 by $0.81. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The company had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. During the same quarter in the prior year, the business posted $4.83 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica declared that its board has initiated a stock repurchase plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 21st were issued a dividend of $1.04 per share. The ex-dividend date was Friday, November 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is presently 19.12%.

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the sale, the president directly owned 7,301 shares in the company, valued at approximately $1,863,945.30. This trade represents a 21.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at approximately $2,142,000. This represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,200 shares of company stock valued at $1,338,225 in the last quarter. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PRI has been the topic of a number of recent analyst reports. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $292.00 to $318.00 in a report on Tuesday, September 23rd. Morgan Stanley set a $292.00 target price on shares of Primerica in a report on Monday, December 15th. Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a research report on Monday, December 29th. Finally, Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $300.00.

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.