Primerica, Inc. $PRI Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Primerica stake by 63.2% in the first quarter, selling 12,697 shares and ending with 7,393 shares worth about $1.85 million.
• Several Primerica insiders also sold shares: President Peter W. Schneider sold 1,800 shares, and CEO Glenn J. Williams sold 1,500 shares, both under pre-arranged Rule 10b5-1 trading plans.
• Primerica recently beat earnings expectations, reporting $5.96 EPS versus the $5.45 estimate, while revenue rose 8.6% year over year to $872.3 million; the company also paid a quarterly dividend of $1.20 per share.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 63.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,393 shares of the financial services provider's stock after selling 12,697 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Primerica were worth $1,852,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PRI. Hantz Financial Services Inc. boosted its position in shares of Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider's stock worth $66,000 after buying an additional 39 shares during the period. Seeds Investor LLC grew its stake in shares of Primerica by 3.2% in the fourth quarter. Seeds Investor LLC now owns 1,374 shares of the financial services provider's stock valued at $355,000 after buying an additional 42 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Primerica by 1.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider's stock valued at $1,058,000 after buying an additional 45 shares during the period. SkyView Investment Advisors LLC raised its holdings in shares of Primerica by 0.7% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider's stock valued at $1,794,000 after buying an additional 46 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its position in Primerica by 6.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 757 shares of the financial services provider's stock worth $195,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction that occurred on 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 owned 9,811 shares in the company, valued at $2,743,548.04. The trade was a 15.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer owned 33,696 shares of the company's stock, valued at approximately $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PRI shares. Keefe, Bruyette & Woods upped their price target on Primerica from $290.00 to $305.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. 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. Weiss Ratings upgraded shares of Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 27th. Finally, Zacks Research lowered shares of Primerica from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $297.80.

Primerica Price Performance

Shares of PRI opened at $284.23 on Wednesday. The business's fifty day moving average price is $275.07 and its 200 day moving average price is $263.90. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $288.03. The stock has a market capitalization of $8.86 billion, a PE ratio of 11.92 and a beta of 0.88.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. During the same quarter in the previous year, the firm earned $5.02 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Primerica, Inc. will post 24.45 earnings per share for the current fiscal 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 $1.20 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Primerica's dividend payout ratio (DPR) is currently 20.13%.

About Primerica

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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