Inspire Investing LLC Invests $768,000 in Primerica, Inc. $PRI

Key Points

• Inspire Investing LLC acquired 2,700 shares of Primerica, Inc. valued at approximately $768,000 during the 1st quarter, highlighting increased institutional interest in the financial services provider.
• Primerica's CEO Glenn J. Williams sold 2,500 shares for about $655,500, reducing his ownership stake by 6.43%.
• The company's stock has an average rating of "Hold" from analysts, with a price target averaging around $315.29, following a recent earnings report that beat consensus estimates.

Inspire Investing LLC bought a new stake in Primerica, Inc. (NYSE:PRI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,700 shares of the financial services provider's stock, valued at approximately $768,000.

A number of other hedge funds have also recently added to or reduced their stakes in PRI. True Wealth Design LLC acquired a new position in shares of Primerica in the fourth quarter valued at approximately $27,000. Headlands Technologies LLC increased its holdings in shares of Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 161 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Primerica during the 1st quarter valued at approximately $64,000. Golden State Wealth Management LLC boosted its position in Primerica by 105.7% during the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after purchasing an additional 130 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Primerica by 205.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRI. Keefe, Bruyette & Woods increased their price target on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Jefferies Financial Group lowered their target price on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Finally, Morgan Stanley lifted their target price on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $315.29.

Primerica Stock Performance

PRI traded down $1.76 during trading on Tuesday, reaching $268.09. The company had a trading volume of 241,038 shares, compared to its average volume of 171,334. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 13.25 and a beta of 1.00. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The firm's 50-day simple moving average is $266.49 and its 200 day simple moving average is $268.55.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.28. The company had revenue of $796.02 million for the quarter, compared to analysts' expectations of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The business's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.71 EPS. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 22nd. Primerica's dividend payout ratio is currently 20.55%.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.