Arbejdsmarkedets Tillaegspension Grows Stake in Primerica, Inc. $PRI

Key Points

• Arbejdsmarkedets Tillaegspension increased its Primerica stake by 9.8% in the first quarter, bringing its holdings to 100,979 shares worth about $25.3 million.
• Several other institutional investors also added to or initiated positions, and overall 90.88% of Primerica’s stock is now held by hedge funds and other institutions.
• Primerica reported strong quarterly results, with EPS of $5.96 topping estimates and revenue rising 8.6% year over year; the company also paid a $1.20 quarterly dividend, while analysts currently rate the stock a Hold on average.

Arbejdsmarkedets Tillaegspension increased its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,979 shares of the financial services provider's stock after buying an additional 8,988 shares during the quarter. Arbejdsmarkedets Tillaegspension owned about 0.32% of Primerica worth $25,293,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp grew its position in Primerica by 1,140.6% in the first quarter. Fifth Third Bancorp now owns 16,227 shares of the financial services provider's stock valued at $4,064,000 after acquiring an additional 14,919 shares in the last quarter. Granite Investment Partners LLC acquired a new position in Primerica in the 1st quarter worth $212,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Primerica in the 1st quarter worth $263,000. Oregon Public Employees Retirement Fund boosted its position in Primerica by 2.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,598 shares of the financial services provider's stock valued at $1,653,000 after buying an additional 182 shares during the last quarter. Finally, Childress Capital Advisors LLC grew its stake in shares of Primerica by 63.0% during the first quarter. Childress Capital Advisors LLC now owns 1,320 shares of the financial services provider's stock valued at $331,000 after acquiring an additional 510 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total value of $503,352.00. Following the sale, the president directly owned 9,811 shares of the company's stock, valued at $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing 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 firm's stock in a transaction on 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 in the company, valued at $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company's stock.

Analyst Ratings Changes

PRI has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday. Weiss Ratings upgraded Primerica from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods upped their target price on Primerica from $290.00 to $305.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Finally, Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Primerica has a consensus rating of "Hold" and an average target price of $294.80.

Primerica Trading Up 0.1%

Shares of NYSE PRI opened at $304.93 on Monday. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 12.79 and a beta of 0.88. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $308.55. The business has a 50 day simple moving average of $279.50 and a 200-day simple moving average of $267.30.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts' consensus estimates of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. During the same quarter in the previous year, the company posted $5.02 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Primerica, Inc. will post 24.51 earnings per share 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. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Primerica's dividend payout ratio (DPR) is 20.13%.

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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