Primerica, Inc. $PRI Shares Bought by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Primerica stake by 73% in the first quarter, purchasing 22,949 additional shares and bringing its holdings to 54,407 shares valued at approximately $13.6 million. Institutional investors and hedge funds collectively own 90.88% of PRI.
• Analyst sentiment remains mixed: TD Cowen raised its price target to $360 with a buy rating, while other firms maintained hold or market-perform ratings. Primerica has a consensus “Hold” rating and an average price target of $308.67.
• Primerica exceeded quarterly earnings and revenue expectations, reporting $5.96 in EPS and $872.3 million in revenue, up 8.6% year over year. The company also announced a quarterly dividend of $1.20 per share, equivalent to a 1.5% annual yield.

Arrowstreet Capital Limited Partnership grew its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 73.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,407 shares of the financial services provider's stock after buying an additional 22,949 shares during the period. Arrowstreet Capital Limited Partnership owned 0.17% of Primerica worth $13,628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PRI. Bank of Montreal Can raised its stake in shares of Primerica by 5,277.5% in the 4th 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 during the period. Geode Capital Management LLC boosted its position in Primerica by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 793,389 shares of the financial services provider's stock worth $205,011,000 after purchasing an additional 37,014 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 7,628 shares in the last quarter. First Trust Advisors LP increased its holdings in Primerica by 4.7% in the 1st quarter. First Trust Advisors LP now owns 529,207 shares of the financial services provider's stock valued at $132,556,000 after purchasing an additional 23,850 shares in the last quarter. Finally, Invesco Ltd. raised its position in Primerica by 200.3% in the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider's stock valued at $92,414,000 after purchasing an additional 238,571 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRI. TD Cowen raised their target price on Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Jefferies Financial Group upped their price target on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Primerica from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, July 24th. Finally, Morgan Stanley boosted their target price 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 investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Primerica has a consensus rating of "Hold" and an average price target of $308.67.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 1,500 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer directly 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 filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares in the company, valued at $2,743,548.04. This represents a 15.50% 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. Company insiders own 0.63% of the company's stock.

Primerica Stock Down 0.8%

Shares of NYSE PRI opened at $320.75 on Friday. The stock's 50 day moving average price is $290.81 and its two-hundred day moving average price is $272.78. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $326.78. The stock has a market capitalization of $10.00 billion, a P/E ratio of 13.45 and a beta of 0.88.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping the consensus estimate of $5.45 by $0.51. The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The business's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.02 EPS. On average, analysts anticipate that Primerica, Inc. will post 24.65 EPS for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. Primerica's dividend payout ratio is 20.13%.

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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