Primerica, Inc. $PRI Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System trimmed its Primerica stake by 5.3% in the first quarter, selling 4,311 shares and leaving it with 76,543 shares valued at about $19.2 million.
• Primerica’s latest quarterly results beat expectations, with EPS of $5.96 versus $5.45 expected and revenue of $872.3 million, up 8.6% year over year.
• Analysts remain cautious overall: although several firms raised price targets, Primerica still carries a Hold consensus rating with an average target price of $308.67.

California Public Employees Retirement System reduced its position in Primerica, Inc. (NYSE:PRI - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,543 shares of the financial services provider's stock after selling 4,311 shares during the period. California Public Employees Retirement System owned about 0.24% of Primerica worth $19,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PRI. SJS Investment Consulting Inc. raised its position in shares of Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the 4th quarter worth about $30,000. Root Financial Partners LLC grew its position in shares of Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 61 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Primerica by 68.9% during the 4th 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 period. Finally, Steph & Co. increased its stake in shares of Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 54 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRI. Weiss Ratings raised Primerica from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods raised their price objective on Primerica from $305.00 to $323.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Jefferies Financial Group upped their target price on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research note on Friday, July 10th. Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Finally, TD Cowen lifted their price target on shares of Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Primerica presently has a consensus rating of "Hold" and an average price target of $308.67.

Primerica Stock Down 1.6%

PRI opened at $307.95 on Friday. The company has a market cap of $9.60 billion, a PE ratio of 12.91 and a beta of 0.88. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $317.69. The company has a 50-day moving average price of $285.91 and a 200 day moving average price of $270.43.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to analysts' expectations of $855.36 million. During the same period in the previous year, the firm posted $5.02 EPS. Primerica's revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Primerica, Inc. will post 24.54 earnings per share for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, May 21st. Primerica's dividend payout ratio (DPR) is 20.13%.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 1,500 shares of the 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 completion of the transaction, the chief executive officer directly owned 33,696 shares of the company's stock, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company's stock.

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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