Ausbil Investment Management Ltd Purchases 5,170 Shares of Primerica, Inc. $PRI

Key Points

• Ausbil Investment Management increased its Primerica stake by 166.8% in the second quarter, purchasing 5,170 additional shares and bringing its holdings to 8,269 shares valued at $2.41 million. Institutional investors collectively own 90.88% of the company.
• Primerica reported quarterly EPS of $6.41, exceeding estimates by $0.38, while revenue rose 9% year over year to $865.07 million. The company declared a quarterly dividend of $1.20, or $4.80 annually, yielding approximately 1.5%.
• Analyst sentiment remains mixed, with Primerica carrying an average “Hold” rating and a consensus price target of $308.67. Meanwhile, company insiders have sold 4,800 shares worth roughly $1.4 million over the past 90 days.

Ausbil Investment Management Ltd raised its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 166.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,269 shares of the financial services provider's stock after buying an additional 5,170 shares during the quarter. Ausbil Investment Management Ltd's holdings in Primerica were worth $2,411,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Primerica by 20.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 366 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Primerica by 27.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider's stock worth $36,894,000 after buying an additional 28,129 shares during the last quarter. Empowered Funds LLC purchased a new position in Primerica during the 1st quarter worth $1,763,000. Focus Partners Wealth increased its position in Primerica by 17.5% during the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider's stock valued at $398,000 after buying an additional 208 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Primerica by 205.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock valued at $75,000 after buying an additional 177 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

NYSE PRI opened at $313.44 on Tuesday. The company has a market capitalization of $9.77 billion, a PE ratio of 12.59 and a beta of 0.87. The company has a fifty day moving average of $296.40 and a 200 day moving average of $275.14. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.38. The company had revenue of $865.07 million for the quarter, compared to the consensus estimate of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $5.46 EPS. Research analysts expect that Primerica, Inc. will post 24.7 earnings per share for the current year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be paid a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. Primerica's dividend payout ratio is presently 19.28%.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the president directly owned 9,811 shares of the company's stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 32,196 shares of the company's stock, valued at $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 4,800 shares of company stock worth $1,404,387. 0.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PRI shares. Weiss Ratings upgraded Primerica from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Jefferies Financial Group lifted their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Morgan Stanley boosted their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Finally, TD Cowen upped their price target on shares of Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Primerica currently has an average rating of "Hold" and an average target price of $308.67.

About Primerica

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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