Klingman & Associates LLC Makes New $362,000 Investment in Primerica, Inc. $PRI

Key Points

• Klingman & Associates LLC has made a new investment of $362,000 in Primerica, acquiring 1,322 shares of the company's stock.
• CEO Glenn J. Williams sold 2,500 shares of Primerica stock for approximately $655,500, reducing his ownership by 6.43%.
• Primerica's recent quarterly earnings report indicated a positive earnings per share of $5.46, surpassing analysts' estimates by $0.28.

Klingman & Associates LLC bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,322 shares of the financial services provider's stock, valued at approximately $362,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Primerica by 1.1% in the first quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider's stock worth $994,048,000 after acquiring an additional 37,994 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Primerica by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider's stock worth $372,740,000 after buying an additional 21,546 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Primerica by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider's stock worth $173,963,000 after buying an additional 16,350 shares during the period. Nuveen LLC bought a new stake in shares of Primerica during the 1st quarter worth $156,019,000. Finally, Fiduciary Management Inc. WI boosted its holdings in shares of Primerica by 2.8% during the 1st quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider's stock worth $139,682,000 after buying an additional 13,402 shares during the period. 90.88% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the transaction, the chief executive officer owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a report on Monday, August 11th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Monday, August 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Primerica in a report on Wednesday, October 8th. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the stock a "neutral" rating in a report on Tuesday, October 7th. Finally, BMO Capital Markets raised shares of Primerica from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $292.00 to $318.00 in a report on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.86.

Primerica Price Performance

Shares of Primerica stock opened at $266.59 on Wednesday. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The firm has a fifty day moving average price of $270.37 and a two-hundred day moving average price of $266.55. The company has a market cap of $8.64 billion, a PE ratio of 13.17 and a beta of 0.97.

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

Primerica Announces Dividend

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

About Primerica

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.

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