Capstone Investment Advisors LLC Purchases New Shares in Primerica, Inc. $PRI

Capstone Investment Advisors LLC acquired a new position in Primerica, Inc. (NYSE:PRI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,450 shares of the financial services provider’s stock, valued at approximately $980,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Primerica during the 2nd quarter worth about $848,161,000. Bank of Montreal Can increased its position in Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after acquiring an additional 1,287,243 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Primerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after acquiring an additional 37,014 shares during the last quarter. Bamco Inc. NY bought a new position in shares of Primerica in the second quarter worth about $190,827,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Primerica by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock worth $162,950,000 after purchasing an additional 7,628 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the transaction, the director directly owned 3,549 shares in the company, valued at $1,113,072.87. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was 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 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. 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. In the last 90 days, insiders sold 5,079 shares of company stock valued at $1,551,308. Company insiders own 0.63% of the company’s stock.

Primerica Trading Down 3.4%

Primerica stock opened at $290.82 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28. The company has a market cap of $8.95 billion, a PE ratio of 11.68 and a beta of 0.87. The company’s 50-day moving average is $304.60 and its two-hundred day moving average is $278.89.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $881.00 million. During the same quarter last year, the firm earned $5.46 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts forecast that Primerica, Inc. will post 25.09 EPS for the current year.

Primerica Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on PRI shares. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a research note on Tuesday, August 11th. Jefferies Financial Group boosted their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Morgan Stanley upped their price objective on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a report on Monday. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Truist Financial reissued a “hold” rating and issued a $320.00 target price (down from $370.00) on shares of Primerica in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Primerica currently has an average rating of “Hold” and a consensus target price of $315.57.

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.