Janney Montgomery Scott LLC Lowers Position in Primerica, Inc. $PRI

Key Points

• Janney Montgomery Scott LLC reduced its Primerica position by 36.5% in the first quarter, selling 3,417 shares and leaving it with 5,938 shares worth about $1.49 million.
• Primerica reported better-than-expected Q1 earnings, with EPS of $5.96 versus $5.45 expected and revenue of $872.3 million, up 8.6% year over year.
• The company recently paid a quarterly dividend of $1.20 per share, and analysts currently have a consensus Hold rating with a price target of $294.80.

Janney Montgomery Scott LLC lowered its position in Primerica, Inc. (NYSE:PRI - Free Report) by 36.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,938 shares of the financial services provider's stock after selling 3,417 shares during the period. Janney Montgomery Scott LLC's holdings in Primerica were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRI. V Square Quantitative Management LLC purchased a new position in shares of Primerica during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 73 shares in the last quarter. Steph & Co. grew its stake in shares of Primerica by 38.0% in 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 during the last quarter. Torren Management LLC purchased a new position in shares of Primerica in the 4th quarter worth about $50,000. Finally, Hantz Financial Services Inc. boosted its stake in Primerica by 18.1% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider's stock worth $66,000 after purchasing an additional 39 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

PRI stock opened at $304.93 on Friday. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 12.79 and a beta of 0.88. The business's 50-day moving average is $279.50 and its two-hundred day moving average is $267.25. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $308.55.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. During the same quarter in the prior year, the firm earned $5.02 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts predict that Primerica, Inc. will post 24.51 earnings per share for the current year.

Primerica Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods raised 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. Weiss Ratings upgraded shares of Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Finally, 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 report on Friday. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $294.80.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the sale, the president owned 9,811 shares of the company's stock, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 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 completion of the sale, 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 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. 0.63% of the stock is currently owned by company insiders.

Primerica Company 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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