Meeder Advisory Services Inc. Buys New Holdings in Primerica, Inc. $PRI

Meeder Advisory Services Inc. purchased a new stake in Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,705 shares of the financial services provider’s stock, valued at approximately $769,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Primerica during the 2nd quarter valued at approximately $848,161,000. Bank of Montreal Can lifted its holdings 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 buying an additional 1,287,243 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Primerica during the second quarter worth $79,044,000. Invesco Ltd. lifted its position in shares of Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Primerica during the 4th quarter valued at about $40,714,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the transaction, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the sale, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,079 shares of company stock valued at $1,551,308 over the last ninety days. Company insiders own 0.63% of the company’s stock.

Primerica Trading Down 0.9%

NYSE:PRI opened at $298.41 on Friday. The firm has a fifty day simple moving average of $303.08 and a two-hundred day simple moving average of $277.92. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 11.98 and a beta of 0.87. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.46 earnings per share. Equities analysts predict that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

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.