California State Teachers Retirement System Purchases 6,092 Shares of Primerica, Inc. $PRI

Key Points

• California State Teachers Retirement System increased its Primerica stake by 19.5%, purchasing 6,092 additional shares to hold 37,259 shares valued at approximately $9.3 million. Institutional investors collectively own 90.88% of the company.
• Primerica exceeded first-quarter expectations, reporting EPS of $5.96 versus the $5.45 consensus and revenue of $872.3 million, up 8.6% year over year. The company also announced a quarterly dividend of $1.20 per share, representing a 1.5% yield.
• Analyst sentiment remains mixed, with three Buy ratings and five Hold ratings and a consensus price target of $308.67. Primerica shares opened at $317.26, above the consensus target and near their 52-week high of $326.78.

California State Teachers Retirement System grew its position in Primerica, Inc. (NYSE:PRI - Free Report) by 19.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,259 shares of the financial services provider's stock after purchasing an additional 6,092 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Primerica worth $9,333,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its position 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 acquiring an additional 366 shares during the period. Goldman Sachs Group Inc. boosted its holdings in 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 purchasing an additional 28,129 shares during the period. Empowered Funds LLC bought a new stake in Primerica in the 1st quarter valued at about $1,763,000. Focus Partners Wealth boosted its holdings in Primerica by 17.5% in the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. grew 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 purchasing an additional 177 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Primerica Trading Down 0.8%

PRI opened at $317.26 on Tuesday. The company has a market cap of $9.89 billion, a P/E ratio of 13.30 and a beta of 0.87. The company's 50 day moving average is $291.55 and its 200-day moving average is $273.23. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $326.78.

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, 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 business had revenue of $872.30 million during the quarter, compared to analysts' expectations of $855.36 million. During the same period in the prior year, the company earned $5.02 EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Primerica, Inc. will post 24.65 EPS for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.5%. Primerica's dividend payout ratio (DPR) is 20.13%.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the company's stock in a transaction dated 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 owned 9,811 shares of the company's stock, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed 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 stock in a transaction dated 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 transaction, the chief executive officer owned 33,696 shares of the company's stock, valued at $9,451,391.04. This represents 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.

Wall Street Analysts Forecast Growth

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