Corient Private Wealth LP Makes New $6.66 Million Investment in Primerica, Inc. $PRI

Key Points

• Corient Private Wealth acquired 23,425 Primerica shares worth approximately $6.66 million, joining other institutional investors; institutions collectively own 90.88% of the stock.
• Primerica’s latest quarterly results beat expectations, with EPS of $6.41 versus the $6.03 consensus and revenue up 9% year over year, although revenue fell short of estimates.
• Analysts maintain a consensus “Hold” rating with an average price target of $315.57. The company also declared a $1.20 quarterly dividend, while recent insider activity was net selling.

Corient Private Wealth LP acquired a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 23,425 shares of the financial services provider's stock, valued at approximately $6,657,000. Corient Private Wealth LP owned 0.08% of Primerica at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. SJS Investment Consulting Inc. increased its position in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 74 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Primerica during the 2nd quarter worth about $29,000. Root Financial Partners LLC grew its stake in Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Primerica by 68.9% during the 4th 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. Finally, Steph & Co. increased its holdings in shares of Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 54 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRI has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. TD Cowen upped their target price on Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Morgan Stanley increased their price target on shares of Primerica from $291.00 to $316.00 and gave the stock an "equal weight" rating in a report on Monday, August 24th. Weiss Ratings lowered shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group boosted their target price on shares of Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $315.57.

Primerica Trading Down 0.2%

Shares of NYSE:PRI opened at $289.86 on Monday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $327.28. The company has a market capitalization of $8.92 billion, a PE ratio of 11.64 and a beta of 0.87. The business has a 50 day moving average of $304.77 and a two-hundred day moving average of $279.05.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to analysts' expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business's revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $5.46 EPS. Equities research analysts predict that Primerica, Inc. will post 25.09 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 21st. Primerica's dividend payout ratio (DPR) is currently 19.28%.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the company's stock in a transaction dated 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 owned 32,196 shares in the company, valued at approximately $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the sale, the director directly owned 3,549 shares in the company, valued at approximately $1,113,072.87. The trade was a 7.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is owned by company insiders.

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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