Bank of New York Mellon Corp Has $78.68 Million Stock Position in Primerica, Inc. $PRI

Bank of New York Mellon Corp increased its stake in Primerica, Inc. (NYSE:PRI) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,134 shares of the financial services provider’s stock after purchasing an additional 2,382 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of Primerica worth $78,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRI. Bank of Montreal Can boosted its holdings in shares of Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after buying an additional 1,287,243 shares during the period. Geode Capital Management LLC increased its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Primerica by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 642,950 shares of the financial services provider’s stock valued at $166,119,000 after acquiring an additional 29,621 shares during the period. First Trust Advisors LP lifted its position in shares of Primerica by 2.7% in the 4th quarter. First Trust Advisors LP now owns 505,357 shares of the financial services provider’s stock valued at $130,564,000 after acquiring an additional 13,274 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after acquiring an additional 238,571 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the completion of the transaction, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. This represents a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Primerica Trading Down 0.0%

NYSE PRI opened at $309.34 on Wednesday. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $317.69. The company has a market capitalization of $9.65 billion, a PE ratio of 12.97 and a beta of 0.88. The firm’s fifty day simple moving average is $284.22 and its 200-day simple moving average is $269.70.

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

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is 20.13%.

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.