Hsbc Holdings PLC Has $1.84 Million Stock Holdings in Primerica, Inc. $PRI

Key Points

• HSBC Holdings PLC cut its stake in Primerica by 52.5% in the fourth quarter, selling 7,873 shares and leaving it with 7,110 shares valued at about $1.84 million.
• Primerica reported solid quarterly results, with EPS of $5.96 beating estimates and revenue of $872.3 million topping forecasts; revenue rose 8.6% year over year.
• The company also paid a quarterly dividend of $1.20 per share, while analysts currently hold an overall Hold rating with an average price target of $294.80.

Hsbc Holdings PLC reduced its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,110 shares of the financial services provider's stock after selling 7,873 shares during the period. Hsbc Holdings PLC's holdings in Primerica were worth $1,844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. V Square Quantitative Management LLC acquired a new position in shares of Primerica during the 4th quarter worth $30,000. Smartleaf Asset Management LLC boosted its stake in 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 in the last quarter. Torren Management LLC bought a new position in Primerica in the fourth quarter valued at about $50,000. Hantz Financial Services Inc. grew its position in Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 39 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Primerica during the fourth quarter worth about $67,000. 90.88% of the stock is currently owned by institutional investors.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares of the company's stock, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president owned 9,811 shares of the company's stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is owned by company insiders.

Primerica Stock Down 0.4%

NYSE PRI traded down $1.27 on Friday, hitting $304.93. The company's stock had a trading volume of 170,354 shares, compared to its average volume of 203,731. The company's 50-day moving average is $279.50 and its 200 day moving average is $267.25. The firm has a market cap of $9.51 billion, a PE ratio of 12.79 and a beta of 0.88. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $308.55.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm posted $5.02 earnings per share. On average, equities analysts expect that Primerica, Inc. will post 24.51 EPS for the current year.

Primerica Announces Dividend

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

Wall Street Analysts Forecast Growth

PRI has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $290.00 to $305.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Jefferies Financial Group increased their price objective on shares of Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research note on Friday. Morgan Stanley raised their target price 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. Finally, Weiss Ratings raised shares of Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $294.80.

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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