Fifth Third Bancorp Raises Position in Primerica, Inc. $PRI

Fifth Third Bancorp lifted its holdings in Primerica, Inc. (NYSE:PRI) by 1,140.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,227 shares of the financial services provider’s stock after buying an additional 14,919 shares during the quarter. Fifth Third Bancorp owned approximately 0.05% of Primerica worth $4,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after purchasing an additional 1,287,243 shares in the last quarter. Geode Capital Management LLC raised its position in Primerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider’s stock worth $205,011,000 after acquiring an additional 37,014 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Primerica by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 642,950 shares of the financial services provider’s stock worth $166,119,000 after acquiring an additional 29,621 shares during the last quarter. First Trust Advisors LP grew its holdings in Primerica by 2.7% during the fourth quarter. First Trust Advisors LP now owns 505,357 shares of the financial services provider’s stock valued at $130,564,000 after purchasing an additional 13,274 shares during the period. Finally, Invesco Ltd. raised its stake in Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after acquiring an additional 238,571 shares during the period. Institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PRI shares. Jefferies Financial Group lifted their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Morgan Stanley raised their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Primerica currently has a consensus rating of “Hold” and an average price target of $298.40.

Primerica Stock Down 0.6%

Primerica stock opened at $310.80 on Friday. The business’s 50-day moving average price is $282.78 and its 200 day moving average price is $268.93. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $317.69. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 13.03 and a beta of 0.88.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $5.02 earnings per share. Equities analysts expect that Primerica, Inc. will post 24.54 EPS for the current year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is currently 20.13%.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.

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.