Sanctuary Advisors LLC Has $703,000 Stake in Primerica, Inc. $PRI

Sanctuary Advisors LLC reduced its stake in shares of Primerica, Inc. (NYSE:PRI) by 43.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,808 shares of the financial services provider’s stock after selling 2,115 shares during the period. Sanctuary Advisors LLC’s holdings in Primerica were worth $703,000 at the end of the most recent quarter.

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

Primerica Stock Performance

Shares of PRI stock opened at $314.13 on Monday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $317.69. The stock has a 50 day simple moving average of $286.72 and a two-hundred day simple moving average of $270.80. The company has a market cap of $9.80 billion, a P/E ratio of 13.17 and a beta of 0.88.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. Primerica’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.02 EPS. On average, research analysts predict that Primerica, Inc. will post 24.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date was Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. Primerica’s dividend payout ratio is currently 20.13%.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Monday, May 18th. The shares were 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 of the company’s stock, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.