Meritage Portfolio Management Raises Stock Position in Primerica, Inc. $PRI

Meritage Portfolio Management lifted its holdings in Primerica, Inc. (NYSE:PRI) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,205 shares of the financial services provider’s stock after buying an additional 89 shares during the quarter. Meritage Portfolio Management’s holdings in Primerica were worth $877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Primerica in the 2nd quarter worth about $31,000. AdvisorNet Financial Inc grew its position in shares of Primerica by 108.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock worth $41,000 after buying an additional 77 shares during the period. Headlands Technologies LLC grew its position in shares of Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock worth $48,000 after buying an additional 161 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Primerica in the 1st quarter worth about $64,000. Finally, Golden State Wealth Management LLC grew its position in shares of Primerica by 105.7% in the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider’s stock worth $72,000 after buying an additional 130 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, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Piper Sandler set a $292.00 price target on shares of Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Jefferies Financial Group dropped their price target on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Primerica in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.86.

Primerica Trading Down 1.2%

NYSE PRI opened at $265.88 on Monday. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 13.14 and a beta of 0.97. The company’s 50 day moving average is $269.85 and its two-hundred day moving average is $267.10.

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

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is 20.55%.

Primerica Profile

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.