Primerica, Inc. $PRI Shares Purchased by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in Primerica, Inc. by 104.8% in Q2, owning a total of 4,846 shares valued at $1,326,000.
• CEO Glenn J. Williams sold 2,500 shares at an average price of $262.20, reducing his ownership by 6.43%, now holding shares valued at approximately $9.54 million.
• Equities analysts maintain a Moderate Buy rating for Primerica, with a consensus price target of $314.86, indicating potential growth prospects.

Ritholtz Wealth Management raised its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 104.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,846 shares of the financial services provider's stock after buying an additional 2,480 shares during the period. Ritholtz Wealth Management's holdings in Primerica were worth $1,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new position in Primerica in the 2nd quarter valued at approximately $31,000. AdvisorNet Financial Inc boosted its position in Primerica by 108.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider's stock valued at $41,000 after buying an additional 77 shares during the period. Headlands Technologies LLC boosted its position in Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after buying an additional 161 shares during the period. Summit Securities Group LLC purchased a new position in Primerica in the 1st quarter valued at approximately $64,000. Finally, Golden State Wealth Management LLC boosted its position in Primerica by 105.7% in the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 2,500 shares of the business's 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 sale, the chief executive officer directly owned 36,392 shares of the company's stock, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Primerica in a research 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 research report on Tuesday, October 7th. 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 research report on Monday, August 11th. BMO Capital Markets raised shares of Primerica from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Finally, Morgan Stanley decreased their price objective on shares of Primerica from $308.00 to $306.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 7th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $314.86.

Primerica Price Performance

Shares of PRI opened at $264.04 on Friday. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The stock has a market cap of $8.55 billion, a PE ratio of 13.05 and a beta of 0.97. The firm has a fifty day moving average price of $270.23 and a 200 day moving average price of $266.68.

Primerica (NYSE:PRI - Get Free Report) last announced 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 analysts' expectations of $790.99 million. During the same period in the previous year, the company earned $4.71 earnings per share. Primerica's quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

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

Primerica Profile

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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