Capricorn Fund Managers Ltd Acquires Shares of 68,041 Primerica, Inc. $PRI

Key Points

• Capricorn Fund Managers Ltd disclosed a new position in Primerica, buying 68,041 shares worth about $17.0 million. The stake makes Primerica its 11th-largest holding and represents about 0.21% of the company.
• Primerica reported strong quarterly results, with earnings of $5.96 per share beating estimates and revenue rising 8.6% year over year to $872.3 million. The company also maintains solid profitability, including a 32.32% return on equity.
• The company paid a quarterly dividend of $1.20 per share, equating to an annualized yield of 1.7%. Meanwhile, analysts are mixed on the stock, with a consensus rating of Hold and a price target of $297.80.

Capricorn Fund Managers Ltd bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 68,041 shares of the financial services provider's stock, valued at approximately $17,043,000. Primerica accounts for about 2.7% of Capricorn Fund Managers Ltd's holdings, making the stock its 11th biggest holding. Capricorn Fund Managers Ltd owned approximately 0.21% of Primerica as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PRI. SJS Investment Consulting Inc. grew its holdings in Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after purchasing an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Primerica during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Steph & Co. boosted its position in shares of Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider's stock worth $49,000 after purchasing an additional 54 shares in the last quarter. Finally, Torren Management LLC bought a new stake in shares of Primerica in the 4th quarter worth approximately $50,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

Shares of NYSE:PRI opened at $284.51 on Wednesday. The company has a market cap of $8.87 billion, a P/E ratio of 11.93 and a beta of 0.88. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $288.03. The stock's fifty day moving average price is $276.33 and its 200-day moving average price is $264.97.

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

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a $1.20 dividend. The ex-dividend date was Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Primerica's dividend payout ratio (DPR) is currently 20.13%.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the firm's stock in a transaction on Friday, June 12th. The stock was 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 in the company, valued at approximately $9,451,391.04. This trade represents a 4.26% 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. Insiders own 0.63% of the company's stock.

Wall Street Analyst Weigh In

PRI has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their target price on Primerica from $290.00 to $305.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. Finally, Weiss Ratings raised Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $297.80.

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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