Hsbc Holdings PLC Sells 5,322 Shares of Primerica, Inc. $PRI

Key Points

• Hsbc Holdings PLC cut its Primerica stake by 74.9% in the first quarter, selling 5,322 shares and retaining 1,788 shares worth approximately $448,000. Institutional investors collectively own 90.88% of PRI.
• Analyst sentiment remains generally cautious, with three Buy ratings and five Hold ratings. The consensus price target is $308.67, despite TD Cowen raising its target to $360.
• Primerica recently reported quarterly EPS of $5.96, surpassing estimates of $5.45, while revenue rose 8.6% year over year to $872.3 million. The company also maintains a quarterly dividend of $1.20 per share, representing a 1.5% annualized yield.

Hsbc Holdings PLC lowered its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 74.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,788 shares of the financial services provider's stock after selling 5,322 shares during the quarter. Hsbc Holdings PLC's holdings in Primerica were worth $448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PRI. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the fourth quarter worth $30,000. SJS Investment Consulting Inc. lifted its stake in Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $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 during the period. Smartleaf Asset Management LLC boosted its holdings in Primerica by 68.9% during 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 during the last quarter. Finally, Torren Management LLC bought a new position in Primerica during the fourth quarter worth about $50,000. 90.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRI has been the subject of a number of recent analyst reports. TD Cowen upped 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. Jefferies Financial Group lifted their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Morgan Stanley lifted their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Primerica from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $308.67.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,800 shares of Primerica 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the company's 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 transaction, the chief executive officer owned 33,696 shares of the company's stock, valued at $9,451,391.04. This trade represents a 4.26% 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 currently owned by corporate insiders.

Primerica Trading Down 0.8%

NYSE:PRI opened at $320.75 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $326.78. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 13.45 and a beta of 0.88. The stock has a 50-day moving average price of $290.81 and a two-hundred day moving average price of $272.78.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (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%.The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.02 earnings per share. Sell-side analysts forecast that Primerica, Inc. will post 24.65 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica's dividend payout ratio is presently 20.13%.

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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