SVRN Asset Management LLC Makes New $635,000 Investment in Primerica, Inc. $PRI

SVRN Asset Management LLC purchased a new position in Primerica, Inc. (NYSE:PRI) during the second quarter, Holdings Channel reports. The fund purchased 2,235 shares of the financial services provider’s stock, valued at approximately $635,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PRI. C M Bidwell & Associates Ltd. purchased a new position in Primerica in the second quarter worth $29,000. SJS Investment Consulting Inc. increased its stake in Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 74 shares during the last quarter. Root Financial Partners LLC raised its position in Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Finally, Steph & Co. lifted its stake in Primerica by 38.0% during the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity at Primerica

In related news, President Peter Schneider sold 1,800 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the sale, the president directly owned 8,011 shares in the company, valued at $2,504,639.15. This represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn Williams sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 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. Insiders sold 5,079 shares of company stock worth $1,551,308 in the last ninety days. 0.63% of the stock is owned by company insiders.

Primerica Stock Down 0.7%

Primerica stock opened at $295.61 on Friday. The company has a market capitalization of $9.10 billion, a PE ratio of 11.87 and a beta of 0.86. The firm has a fifty day simple moving average of $305.87 and a two-hundred day simple moving average of $280.20. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28.

Primerica (NYSE:PRI) last posted its quarterly 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 business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. During the same period in the prior year, the business posted $5.46 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts expect that Primerica, Inc. will post 25.2 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

Analyst Upgrades and Downgrades

PRI has been the subject of a number of research reports. Truist Financial reiterated a “hold” rating and issued a $320.00 price objective (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Jefferies Financial Group raised their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Morgan Stanley boosted their target price on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Monday, August 24th. Keefe, Bruyette & Woods upped their target price 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, TD Cowen upped their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Primerica has a consensus 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.