Great Lakes Advisors LLC Invests $1.27 Million in Primerica, Inc. $PRI

Key Points

• Great Lakes Advisors acquired a new $1.27 million stake in Primerica during the second quarter, while institutional investors collectively own 90.88% of the company.
• Analyst sentiment remains cautious, with three Buy ratings and five Holds producing a consensus rating of “Hold” and an average price target of $310.67.
• Primerica exceeded quarterly earnings expectations, reporting $6.41 in EPS versus $6.03 expected, while revenue rose 9% year over year. The company also declared a quarterly dividend of $1.20 per share, representing a 1.6% yield.

Great Lakes Advisors LLC acquired a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,464 shares of the financial services provider's stock, valued at approximately $1,269,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. raised its holdings in Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after buying an additional 74 shares during the period. Root Financial Partners LLC lifted its stake in Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after buying an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 valued at $47,000 after buying an additional 73 shares during the period. Torren Management LLC acquired a new position in shares of Primerica in the fourth quarter valued at approximately $50,000. Finally, Steph & Co. increased its position in shares of Primerica by 38.0% during the first quarter. Steph & Co. now owns 196 shares of the financial services provider's stock worth $49,000 after acquiring an additional 54 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRI shares. Jefferies Financial Group raised their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a report on Friday, July 10th. Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. Weiss Ratings downgraded Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. TD Cowen lifted their price target on Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $310.67.

Insiders Place Their Bets

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the transaction, the director owned 3,549 shares of the company's stock, valued at $1,113,072.87. The trade was a 7.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 1,500 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,079 shares of company stock valued at $1,551,308 in the last three months. 0.63% of the stock is currently owned by corporate insiders.

Primerica Stock Down 1.0%

Shares of PRI opened at $294.95 on Friday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28. The stock has a market capitalization of $9.08 billion, a P/E ratio of 11.85 and a beta of 0.87. The company has a 50 day moving average of $303.34 and a 200-day moving average of $278.03.

Primerica (NYSE:PRI - Get Free Report) last announced 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. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the previous year, the firm posted $5.46 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica's payout ratio is presently 19.28%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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