8,989 Shares in Primerica, Inc. $PRI Acquired by Alpine Woods Capital Investors LLC

Key Points

• Alpine Woods Capital Investors acquired 8,989 Primerica shares worth approximately $2.56 million, while institutional investors and hedge funds collectively own 90.88% of the stock.
• Analyst sentiment remains mixed, with three Buy ratings and five Hold ratings; the consensus rating is Hold with an average price target of $310.67.
• Primerica reported quarterly EPS of $6.41, beating estimates, while revenue rose 9% year over year to $865.07 million. The company also declared a $1.20 quarterly dividend, equivalent to a 1.6% yield.

Alpine Woods Capital Investors LLC purchased a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,989 shares of the financial services provider's stock, valued at approximately $2,555,000.

Several other hedge funds have also recently bought and sold shares of PRI. SJS Investment Consulting Inc. grew its holdings in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after purchasing an additional 74 shares during the last quarter. Root Financial Partners LLC lifted its holdings in Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Steph & Co. lifted its holdings in Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. Finally, Torren Management LLC acquired a new position in Primerica in the fourth quarter valued at about $50,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on PRI shares. Keefe, Bruyette & Woods boosted their target price on Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a report on Tuesday, August 11th. Morgan Stanley raised their price target on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. TD Cowen lifted their price objective on Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Jefferies Financial Group boosted their price objective on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Finally, Weiss Ratings cut Primerica from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Three investment 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, the stock presently has an average rating of "Hold" and a consensus price target of $310.67.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the sale, the president directly owned 8,011 shares of the company's stock, valued at $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares of the company's stock, valued at $10,309,159.20. This represents a 4.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 5,079 shares of company stock worth $1,551,308. Insiders own 0.63% of the company's stock.

Primerica Trading Down 0.6%

Shares of NYSE:PRI opened at $308.20 on Wednesday. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $327.28. The stock has a market capitalization of $9.49 billion, a P/E ratio of 12.38 and a beta of 0.87. The business has a 50-day moving average price of $302.22 and a two-hundred day moving average price of $277.39.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same quarter last year, the firm earned $5.46 EPS. The company's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts predict that Primerica, Inc. will post 25.02 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be given a dividend of $1.20 per share. The ex-dividend date is Friday, August 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Primerica's payout ratio is presently 19.28%.

Primerica 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.

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