Janney Montgomery Scott LLC Has $3.24 Million Position in Primerica, Inc. $PRI

Janney Montgomery Scott LLC boosted its stake in shares of Primerica, Inc. (NYSE:PRI) by 14.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,833 shares of the financial services provider’s stock after acquiring an additional 1,510 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Primerica were worth $3,238,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PRI. UMB Bank n.a. grew its holdings in shares of Primerica by 89.2% during the first quarter. UMB Bank n.a. now owns 454 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 214 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Primerica by 8.2% during the first quarter. Farther Finance Advisors LLC now owns 1,914 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 145 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Primerica during the first quarter worth $280,000. Harbor Capital Advisors Inc. grew its holdings in shares of Primerica by 35.6% during the first quarter. Harbor Capital Advisors Inc. now owns 16,242 shares of the financial services provider’s stock worth $4,621,000 after purchasing an additional 4,266 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Primerica by 38.1% in the first quarter. GAMMA Investing LLC now owns 1,558 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 430 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRI. Morgan Stanley decreased their price target on Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a report on Tuesday. Jefferies Financial Group decreased their price target on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a report on Monday, August 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Primerica in a report on Wednesday. Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Finally, Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.86.

Primerica Stock Performance

Shares of Primerica stock opened at $269.82 on Thursday. The business’s 50 day simple moving average is $269.65 and its 200 day simple moving average is $267.75. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The firm has a market cap of $8.74 billion, a PE ratio of 13.33 and a beta of 0.97.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.28. The firm had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $4.71 earnings per share. As a group, equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were paid a $1.04 dividend. The ex-dividend date was Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.5%. Primerica’s payout ratio is 20.55%.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the sale, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

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.