OneDigital Investment Advisors LLC Takes $1.79 Million Position in Primerica, Inc. $PRI

Key Points

• OneDigital Investment Advisors purchased 6,283 Primerica shares worth approximately $1.79 million in the second quarter. Institutional investors collectively own 90.88% of the company.
• Primerica insiders sold 3,279 shares worth about $988,538 over the past three months, including sales by the CEO and a director. Analysts maintain a consensus “Hold” rating with an average price target of $310.67.
• Primerica reported quarterly EPS of $6.41, exceeding expectations of $6.03, while revenue rose 9% year over year to $865.07 million. The company also announced a quarterly dividend of $1.20 per share, implying a 1.5% annual yield.

OneDigital Investment Advisors LLC bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 6,283 shares of the financial services provider's stock, valued at approximately $1,786,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRI. SJS Investment Consulting Inc. raised its holdings in Primerica by 176.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after buying an additional 74 shares during the period. Root Financial Partners LLC boosted its stake in Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock worth $44,000 after buying an additional 61 shares during the period. Smartleaf Asset Management LLC increased its position in Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. Steph & Co. increased its position in Primerica by 38.0% during the first quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 54 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in shares of Primerica in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Activity

In other news, Director Amber Lynne Cottle sold 279 shares of the firm's stock in a transaction that occurred 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 directly owned 3,549 shares of the company's stock, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the transaction, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,279 shares of company stock valued at $988,538. 0.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Primerica Stock Down 0.1%

PRI stock opened at $313.33 on Monday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 12.58 and a beta of 0.87. The business's fifty day simple moving average is $300.57 and its two-hundred day simple moving average is $276.67.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.46 earnings per share. Research analysts expect that Primerica, Inc. will post 24.85 EPS for the current year.

Primerica Dividend Announcement

The business 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 dividend of $1.20 per share. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio (DPR) is presently 19.28%.

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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