First Trust Advisors LP Boosts Stock Position in Primerica, Inc. $PRI

Key Points

• First Trust Advisors LP increased its Primerica stake by 4.7% in Q1, holding 529,207 shares worth about $132.6 million at quarter-end. Institutional ownership remains very high, with investors holding about 90.88% of the stock.
• Primerica reported strong quarterly earnings, posting EPS of $5.96 versus $5.45 expected and revenue of $872.3 million versus $855.36 million expected. Revenue rose 8.6% year over year, and the company reiterated solid profitability with a 22.99% net margin and 32.32% return on equity.
• The company paid a quarterly dividend of $1.20 per share, or $4.80 annually, for a 1.6% yield. Meanwhile, analysts remain cautious overall, with a consensus rating of Hold and an average price target of $308.67.

First Trust Advisors LP raised its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 4.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 529,207 shares of the financial services provider's stock after buying an additional 23,850 shares during the quarter. First Trust Advisors LP owned about 1.70% of Primerica worth $132,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRI. V Square Quantitative Management LLC bought a new position in shares of Primerica in the fourth quarter valued at approximately $30,000. SJS Investment Consulting Inc. lifted its stake in Primerica by 176.2% in the 1st 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 in the last quarter. Root Financial Partners LLC boosted its holdings in Primerica by 52.6% in 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 period. Smartleaf Asset Management LLC raised its position in shares of Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock worth $47,000 after buying an additional 73 shares in the last quarter. Finally, Torren Management LLC bought a new stake in Primerica during the fourth quarter valued at $50,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Down 1.6%

PRI stock opened at $307.95 on Friday. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 12.91 and a beta of 0.88. The firm's 50-day moving average price is $285.91 and its two-hundred day moving average price is $270.43. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $317.69.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts' consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. Primerica's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.02 earnings per share. Equities analysts predict that Primerica, Inc. will post 24.54 EPS for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. Primerica's dividend payout ratio is presently 20.13%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PRI. Weiss Ratings upgraded Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods lifted their price target on Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. TD Cowen upped their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group upped their target price on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Finally, Morgan Stanley increased their price target on shares of Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Primerica has a consensus rating of "Hold" and a consensus price target of $308.67.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction that occurred 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 sale, the chief executive officer directly owned 33,696 shares in the company, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their position. The sale was disclosed in a 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. Also, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This trade represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.63% of the company's stock.

Primerica 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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