Academy Capital Management Takes $36.88 Million Position in Primerica, Inc. $PRI

Academy Capital Management purchased a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 129,764 shares of the financial services provider's stock, valued at approximately $36,879,000. Primerica accounts for 4.9% of Academy Capital Management's portfolio, making the stock its 10th biggest holding. Academy Capital Management owned 0.42% of Primerica at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Primerica in the second quarter valued at about $848,161,000. Bank of Montreal Can increased its position in Primerica by 5,277.5% during 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 during the period. Bank of New York Mellon Corp acquired a new position in Primerica during the 2nd quarter worth approximately $79,044,000. Invesco Ltd. increased its position 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 purchasing an additional 238,571 shares during the period. Finally, Life Cycle Investment Partners Ltd purchased a new position in shares of Primerica during the 4th quarter worth approximately $40,714,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

Primerica stock opened at $294.95 on Friday. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 11.85 and a beta of 0.87. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The stock's fifty day moving average is $303.34 and its two-hundred day moving average is $278.03.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The business had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. During the same quarter in the previous year, the company posted $5.46 EPS. The business's revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Primerica, Inc. will post 25.02 EPS for the current fiscal year.

Primerica Dividend Announcement

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 dividend on an annualized basis and a yield of 1.6%. Primerica's payout ratio is presently 19.28%.

Analysts Set New Price Targets

PRI has been the subject of several research analyst reports. TD Cowen increased their price objective on Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Jefferies Financial Group boosted their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Weiss Ratings cut shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley increased their price target on shares of Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Primerica currently has an average rating of "Hold" and an average price target of $310.67.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president directly owned 8,011 shares in the company, valued at $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the transaction, the director directly owned 3,549 shares of the company's stock, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,079 shares of company stock valued at $1,551,308 over the last quarter. Corporate insiders own 0.63% of the company's stock.

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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