AXQ Capital LP Makes New $1.12 Million Investment in Primerica, Inc. $PRI

Key Points

• AXQ Capital LP opened a new position in Primerica, buying 4,328 shares worth about $1.12 million in the fourth quarter.
• Primerica reported better-than-expected Q1 earnings, with EPS of $5.96 versus $5.45 expected and revenue of $872.3 million, up 8.6% year over year.
• The company declared a quarterly dividend of $1.20 per share, payable June 12, while analysts currently rate the stock a Hold with a consensus price target of $297.80.

AXQ Capital LP purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,328 shares of the financial services provider's stock, valued at approximately $1,118,000.

A number of other large investors have also bought and sold shares of PRI. Integrated Wealth Concepts LLC grew its position in shares of Primerica by 20.6% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. grew 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 worth $36,894,000 after buying an additional 28,129 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Primerica in the 1st quarter worth approximately $1,763,000. Focus Partners Wealth grew its position in shares of Primerica by 17.5% in the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider's stock worth $398,000 after buying an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Primerica by 205.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock worth $75,000 after buying an additional 177 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PRI has been the topic of a number of recent analyst reports. Zacks Research lowered Primerica from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Morgan Stanley lifted their price target on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Weiss Ratings upgraded Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Primerica from $290.00 to $305.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $297.80.

Primerica Price Performance

PRI stock opened at $259.76 on Wednesday. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $288.03. The business has a fifty day moving average price of $268.46 and a 200-day moving average price of $262.03. The stock has a market capitalization of $8.10 billion, a P/E ratio of 10.89 and a beta of 0.88.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.45 by $0.51. The firm had revenue of $872.30 million during the quarter, compared to analysts' expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.02 earnings per share. As a group, analysts anticipate that Primerica, Inc. will post 24.45 earnings per share for the current year.

Primerica Dividend Announcement

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

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company's stock.

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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