Arbejdsmarkedets Tillaegspension Makes New $23.77 Million Investment in Primerica, Inc. $PRI

Key Points

• Arbejdsmarkedets Tillaegspension initiated a new position in Primerica, buying 91,991 shares worth about $23.77 million in the fourth quarter.
• Primerica has seen continued institutional activity, with large holders like Dimensional Fund Advisors, First Trust Advisors, AQR Capital Management, and Nordea Investment Management all increasing stakes; institutions now own about 90.88% of the company.
• The company reported stronger-than-expected quarterly results, with EPS of $5.96 versus estimates of $5.45 and revenue up 8.6% year over year, while also declaring a quarterly dividend of $1.20 per share.

Arbejdsmarkedets Tillaegspension purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 91,991 shares of the financial services provider's stock, valued at approximately $23,767,000. Arbejdsmarkedets Tillaegspension owned about 0.29% of Primerica as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Primerica by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider's stock worth $170,248,000 after purchasing an additional 2,525 shares during the period. First Trust Advisors LP lifted its position in Primerica by 12.4% in the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider's stock worth $136,597,000 after buying an additional 54,158 shares in the last quarter. AQR Capital Management LLC lifted its position in Primerica by 25.5% in the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider's stock worth $96,089,000 after buying an additional 70,510 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Primerica by 2.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider's stock valued at $71,278,000 after buying an additional 6,623 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Primerica by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 216,312 shares of the financial services provider's stock valued at $56,150,000 after buying an additional 31,876 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen reissued a "buy" rating on shares of Primerica in a research note on Wednesday, January 28th. Morgan Stanley decreased their target price on shares of Primerica from $292.00 to $285.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $290.00 to $305.00 and gave the company a "market perform" rating in a research note on Wednesday. Weiss Ratings reissued a "buy (b-)" rating on shares of Primerica in a research note on Wednesday, May 6th. Finally, Zacks Research lowered shares of Primerica from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $296.60.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the transaction, the chief executive officer owned 27,392 shares in the company, valued at $7,023,582.72. This trade represents a 8.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares in the company, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.63% of the company's stock.

Primerica Trading Up 0.8%

PRI stock opened at $269.12 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The company has a fifty day simple moving average of $263.04 and a 200 day simple moving average of $260.53. The firm has a market cap of $8.39 billion, a PE ratio of 11.28 and a beta of 0.91.

Primerica (NYSE:PRI - Get Free Report) 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 the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. During the same quarter in the previous year, the business earned $5.02 EPS. Primerica's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts forecast that Primerica, Inc. will post 24.08 EPS for the current fiscal year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 21st. Primerica's payout ratio is presently 20.13%.

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.

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