Quantinno Capital Management LP Boosts Stock Position in Primerica, Inc. $PRI

Quantinno Capital Management LP increased its holdings in Primerica, Inc. (NYSE:PRI) by 62.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,988 shares of the financial services provider’s stock after purchasing an additional 47,147 shares during the quarter. Quantinno Capital Management LP’s holdings in Primerica were worth $30,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PRI. Integrated Wealth Concepts LLC raised its position in Primerica by 20.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 366 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Primerica by 27.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after buying an additional 28,129 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Primerica in the 1st quarter worth approximately $1,763,000. Focus Partners Wealth increased its stake in shares of Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after buying an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity

In related news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the transaction, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at $9,451,391.04. This trade represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica 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 directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% 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 owned by company insiders.

Wall Street Analyst Weigh In

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

Primerica Stock Down 0.8%

NYSE PRI opened at $320.75 on Friday. The firm has a market capitalization of $10.00 billion, a PE ratio of 13.45 and a beta of 0.88. The stock’s 50 day moving average is $290.81 and its 200 day moving average is $272.78. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $326.78.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.02 earnings per share. On average, research analysts anticipate that Primerica, Inc. will post 24.65 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is presently 20.13%.

About Primerica

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.