SG Americas Securities LLC Boosts Stake in Primerica, Inc. $PRI

SG Americas Securities LLC boosted its stake in Primerica, Inc. (NYSE:PRI) by 97.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,861 shares of the financial services provider’s stock after buying an additional 2,399 shares during the quarter. SG Americas Securities LLC’s holdings in Primerica were worth $1,256,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRI. Nordea Investment Management AB acquired a new stake in shares of Primerica during the 3rd quarter worth $51,004,000. Danske Bank A S acquired a new stake in shares of Primerica during the 3rd quarter worth $30,396,000. Alps Advisors Inc. acquired a new stake in shares of Primerica during the 3rd quarter worth $20,524,000. AQR Capital Management LLC increased its holdings in shares of Primerica by 25.5% during the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock worth $96,089,000 after buying an additional 70,510 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Primerica by 12.4% during the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after buying an additional 54,158 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

NYSE:PRI opened at $256.15 on Wednesday. The firm has a 50-day moving average of $256.09 and a two-hundred day moving average of $260.05. The stock has a market cap of $8.11 billion, a P/E ratio of 11.17 and a beta of 0.90. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03.

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

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, February 23rd. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is currently 20.93%.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,930,384.18. This trade represents a 13.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. The trade was a 8.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the subject of a number of research analyst reports. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Morgan Stanley dropped their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Keefe, Bruyette & Woods restated a “hold” rating and set a $290.00 price objective on shares of Primerica in a report on Thursday, March 26th. Finally, Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.60.

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.