NewEdge Wealth LLC Makes New $4.36 Million Investment in Primerica, Inc. $PRI

NewEdge Wealth LLC acquired a new position in Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,343 shares of the financial services provider’s stock, valued at approximately $4,360,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Primerica in the 2nd quarter worth approximately $848,161,000. Bank of Montreal Can raised its stake in Primerica by 5,277.5% during the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after acquiring an additional 1,287,243 shares during the period. Geode Capital Management LLC lifted its holdings in Primerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock valued at $205,011,000 after purchasing an additional 37,014 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Primerica by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider’s stock valued at $162,950,000 after purchasing an additional 7,628 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Primerica by 4.7% in the first quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider’s stock worth $132,556,000 after purchasing an additional 23,850 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the sale, the director owned 3,549 shares in the company, valued at $1,113,072.87. The trade was a 7.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares in the company, valued at approximately $10,309,159.20. The trade was a 4.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is owned by insiders.

Primerica Trading Down 2.4%

NYSE PRI opened at $300.70 on Thursday. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28. The stock has a market cap of $9.26 billion, a PE ratio of 12.08 and a beta of 0.87. The stock’s 50 day moving average is $302.69 and its 200 day moving average is $277.67.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $5.46 EPS. On average, analysts forecast that Primerica, Inc. will post 25.02 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be given a dividend of $1.20 per share. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio is currently 19.28%.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods increased their price target on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group raised their price target on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $310.67.

Primerica 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.