Maridea Wealth Management LLC Invests $549,000 in Primerica, Inc. $PRI

Maridea Wealth Management LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,124 shares of the financial services provider’s stock, valued at approximately $549,000.

Several other institutional investors also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in Primerica by 20.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 366 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Primerica by 27.7% during the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after purchasing an additional 28,129 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Primerica during the first quarter valued at about $1,763,000. Focus Partners Wealth increased its holdings in shares of Primerica by 17.5% in the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after buying an additional 177 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the transaction, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at $7,023,582.72. The trade was a 8.36% 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. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the transaction, the president owned 11,611 shares in the company, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.61% of the company’s stock.

Primerica Trading Down 0.5%

Shares of NYSE:PRI opened at $245.85 on Monday. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 10.72 and a beta of 0.92. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $296.00. The company has a 50-day moving average price of $258.52 and a 200 day moving average price of $261.80.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The company had revenue of $853.51 million for the quarter, compared to analysts’ expectations of $839.65 million. During the same period in the previous year, the firm posted $5.03 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is presently 20.93%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PRI shares. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Morgan Stanley decreased their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Finally, Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Primerica presently has an average rating of “Hold” and a consensus price target of $298.60.

Primerica Company Profile

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.