Artemis Investment Management LLP Buys 5,318 Shares of Primerica, Inc. $PRI

Key Points

• Artemis Investment Management LLP raised its stake in Primerica by 14.6% in the fourth quarter, buying 5,318 shares to own 41,634 shares worth about $10.76 million (≈0.13% of the company).
• Primerica beat quarterly expectations with $6.13 EPS vs. $5.69 expected and revenue of $853.5M (up 8.3% YoY), and the company raised its quarterly dividend to $1.20 ($4.80 annual, ~1.7% yield).
• Analysts are mixed—three Buy and five Hold ratings give Primerica a consensus "Hold" with an average price target of $293.60.

Artemis Investment Management LLP lifted its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,634 shares of the financial services provider's stock after purchasing an additional 5,318 shares during the quarter. Artemis Investment Management LLP owned 0.13% of Primerica worth $10,757,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its stake in Primerica by 20.6% during the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider's stock worth $609,000 after buying an additional 366 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Primerica by 27.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider's stock valued at $36,894,000 after buying an additional 28,129 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Primerica during the 1st quarter worth approximately $1,763,000. Focus Partners Wealth lifted its holdings in shares of Primerica by 17.5% during the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider's stock worth $398,000 after acquiring an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Primerica by 205.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock worth $75,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PRI. Weiss Ratings upgraded shares of Primerica from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 6th. Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $290.00 target price on shares of Primerica in a report on Thursday, March 26th. Morgan Stanley decreased their price target on Primerica from $292.00 to $285.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 3rd. Zacks Research downgraded Primerica from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Finally, TD Cowen reissued a "buy" rating on shares of Primerica in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Primerica has a consensus rating of "Hold" and an average target price of $293.60.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the transaction, the president directly owned 11,611 shares of the company's stock, valued at $2,930,384.18. The trade was a 13.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.63% of the company's stock.

Primerica Trading Down 1.6%

Shares of PRI stock opened at $276.80 on Friday. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 12.07 and a beta of 0.91. The stock has a 50-day moving average of $260.45 and a 200-day moving average of $260.13.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping analysts' consensus estimates of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The company had revenue of $853.51 million for the quarter, compared to analyst estimates of $839.65 million. During the same period in the previous year, the firm earned $5.03 earnings per share. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts forecast that Primerica, Inc. will post 23.84 earnings per share for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. This is an increase from Primerica's previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Monday, February 23rd. Primerica's payout ratio is currently 20.93%.

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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