Oxbow Advisors LLC Makes New $3.57 Million Investment in Primerica, Inc. $PRI

Key Points

• Oxbow Advisors acquired 12,575 Primerica shares in the second quarter, valued at approximately $3.57 million. Institutional investors collectively own 90.88% of the company.
• Primerica exceeded quarterly earnings expectations, reporting $6.41 in EPS versus the $6.03 consensus, while revenue rose 9% year over year to $865.07 million. Analysts maintain a consensus “Hold” rating with a $310.67 price target.
• The company declared a quarterly dividend of $1.20 per share, equivalent to $4.80 annually and a 1.6% yield. Meanwhile, insiders sold 5,079 shares worth about $1.55 million over the past 90 days.

Oxbow Advisors LLC acquired 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 institutional investor acquired 12,575 shares of the financial services provider's stock, valued at approximately $3,574,000.

Several other hedge funds also recently modified their holdings of the stock. Hantz Financial Services Inc. raised its position in Primerica by 18.1% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider's stock valued at $66,000 after buying an additional 39 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Primerica by 1.1% during the 1st quarter. Pacer Advisors Inc. now owns 3,790 shares of the financial services provider's stock worth $949,000 after acquiring an additional 40 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in shares of Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider's stock worth $1,058,000 after acquiring an additional 45 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Primerica by 0.7% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider's stock worth $1,794,000 after acquiring an additional 46 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Primerica by 6.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 757 shares of the financial services provider's stock valued at $195,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insiders Place Their Bets

In other Primerica news, Director Amber Lynne Cottle sold 279 shares of Primerica stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the sale, the director owned 3,549 shares of the company's stock, valued at approximately $1,113,072.87. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the transaction, the president owned 8,011 shares in the company, valued at approximately $2,504,639.15. The trade was a 18.35% 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 90 days, insiders have sold 5,079 shares of company stock valued at $1,551,308. Company insiders own 0.63% of the company's stock.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. TD Cowen lifted their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group lifted their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $310.67.

Primerica Price Performance

Shares of NYSE:PRI opened at $308.20 on Wednesday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28. The company has a market capitalization of $9.49 billion, a PE ratio of 12.38 and a beta of 0.87. The business has a fifty day moving average price of $302.22 and a two-hundred day moving average price of $277.39.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.38. The company 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% compared to the same quarter last year. During the same period in the previous year, the business posted $5.46 EPS. Sell-side analysts anticipate that Primerica, Inc. will post 25.02 earnings per share for the current year.

Primerica Announces Dividend

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. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica's dividend payout ratio (DPR) is 19.28%.

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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