KBC Group NV Acquires 23,610 Shares of Primerica, Inc. $PRI

Key Points

• KBC Group NV dramatically increased its Primerica stake in the first quarter, buying 23,610 additional shares and lifting its holdings by 2,664.8% to 24,496 shares worth about $6.14 million.
• Primerica’s recent earnings topped expectations, with Q1 EPS of $5.96 versus the $5.45 estimate and revenue of $872.3 million, up 8.6% year over year. Analysts now expect full-year EPS of 24.54.
• Wall Street remains mostly cautious on PRI, with an average analyst rating of “Hold” and an average price target of $308.67, even after several firms raised their targets. The stock was trading near $307.95 and has also seen insider selling by the CEO and president.

KBC Group NV raised its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 2,664.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,496 shares of the financial services provider's stock after buying an additional 23,610 shares during the quarter. KBC Group NV owned about 0.08% of Primerica worth $6,136,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. SJS Investment Consulting Inc. lifted its holdings in shares of 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 purchasing an additional 74 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Primerica during the fourth quarter worth about $30,000. Root Financial Partners LLC raised its position in Primerica by 52.6% in the 1st 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 last quarter. Smartleaf Asset Management LLC boosted its position in Primerica by 68.9% during the 4th 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 during the last quarter. Finally, Steph & Co. raised its holdings in shares of Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Primerica from $266.00 to $268.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. TD Cowen raised their price target on Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday. Weiss Ratings raised Primerica from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 27th. Finally, Morgan Stanley upped their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $308.67.

Primerica Stock Down 1.6%

Shares of NYSE:PRI opened at $307.95 on Friday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $317.69. The business has a 50 day moving average of $285.91 and a 200-day moving average of $270.43. The stock has a market cap of $9.60 billion, a PE ratio of 12.91 and a beta of 0.88.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. During the same period in the previous year, the company posted $5.02 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Primerica, Inc. will post 24.54 earnings per share for the current year.

Primerica Dividend Announcement

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

Insider Buying and Selling

In related 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 sale, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the completion of the transaction, the president owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their position. 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 insiders.

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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