Primerica, Inc. (NYSE:PRI) Shares Sold by Xponance Inc.

Xponance Inc. lowered its position in Primerica, Inc. (NYSE:PRI) by 40.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,720 shares of the financial services provider’s stock after selling 2,546 shares during the period. Xponance Inc.’s holdings in Primerica were worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRI. Bank of Montreal Can boosted its holdings in shares of Primerica by 4.4% in the 2nd quarter. Bank of Montreal Can now owns 33,149 shares of the financial services provider’s stock valued at $7,862,000 after acquiring an additional 1,391 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Primerica by 4.8% during the second quarter. 1832 Asset Management L.P. now owns 5,866 shares of the financial services provider’s stock valued at $1,388,000 after purchasing an additional 266 shares during the period. Sei Investments Co. boosted its holdings in Primerica by 19.1% in the second quarter. Sei Investments Co. now owns 51,300 shares of the financial services provider’s stock valued at $12,137,000 after purchasing an additional 8,227 shares during the last quarter. Pacer Advisors Inc. grew its position in Primerica by 28.6% during the 2nd quarter. Pacer Advisors Inc. now owns 8,634 shares of the financial services provider’s stock worth $2,043,000 after purchasing an additional 1,920 shares during the period. Finally, Bridges Investment Management Inc. purchased a new position in shares of Primerica during the 2nd quarter valued at about $363,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares of the company’s stock, valued at $11,446,071.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PRI has been the topic of a number of recent research reports. Truist Financial upped their target price on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group increased their price target on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $275.20.

Primerica Stock Performance

Shares of NYSE PRI opened at $263.17 on Friday. The firm has a market cap of $8.90 billion, a PE ratio of 16.02 and a beta of 1.09. Primerica, Inc. has a one year low of $184.76 and a one year high of $267.92. The firm has a fifty day moving average of $255.75 and a 200 day moving average of $240.61.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter in the prior year, the firm earned $3.99 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts predict that Primerica, Inc. will post 17.94 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.37%. This is a boost from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. Primerica’s payout ratio is presently 21.91%.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.