JLB & Associates Inc. Acquires New Stake in Primerica, Inc. $PRI

Key Points

• JLB & Associates acquired 17,644 Primerica shares worth approximately $5.0 million, while institutional investors collectively own 90.88% of the company.
• Primerica reported quarterly EPS of $6.41, beating estimates of $6.03, although revenue of $865.1 million fell short of expectations; revenue still increased 9% year over year.
• The company declared a quarterly dividend of $1.20, or $4.80 annually, representing a 1.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $310.67, while insiders sold 5,079 shares over the past quarter.

JLB & Associates Inc. bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,644 shares of the financial services provider's stock, valued at approximately $5,014,000. JLB & Associates Inc. owned approximately 0.06% of Primerica at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PRI. BlackRock Inc. purchased a new position in shares of Primerica in the 2nd quarter worth about $848,161,000. Bank of Montreal Can increased its position in shares of Primerica by 5,277.5% during the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider's stock valued at $338,874,000 after acquiring an additional 1,287,243 shares in the last quarter. Geode Capital Management LLC raised its holdings in Primerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider's stock worth $205,011,000 after acquiring an additional 37,014 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Primerica by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 650,578 shares of the financial services provider's stock valued at $162,950,000 after acquiring an additional 7,628 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Primerica by 4.7% in the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider's stock worth $132,556,000 after purchasing an additional 23,850 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other news, Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction on Tuesday, August 11th. The shares were 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 in the company, valued at $1,113,072.87. This trade represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 1,500 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares of the company's stock, valued at approximately $10,309,159.20. The trade was a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 5,079 shares of company stock valued at $1,551,308. 0.63% of the stock is owned by insiders.

Primerica Stock Performance

Primerica stock opened at $308.20 on Wednesday. Primerica, Inc. has a one year low of $230.09 and a one year high of $327.28. The stock has a fifty day moving average of $302.22 and a 200 day moving average of $277.39. The stock has a market cap of $9.49 billion, a PE ratio of 12.38 and a beta of 0.87.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to analysts' expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $5.46 earnings per share. As a group, sell-side analysts predict that Primerica, Inc. will post 25.02 EPS for the current fiscal year.

Primerica Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PRI shares. Jefferies Financial Group upped their price target on Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a report on Friday, July 10th. TD Cowen boosted their target price on Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a report on Tuesday, August 11th. Finally, Morgan Stanley lifted their price target 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. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $310.67.

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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