Primerica, Inc. $PRI Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its stake in Primerica by 52.5% in the fourth quarter, selling 7,873 shares and leaving it with 7,110 shares valued at about $1.84 million.
• Primerica reported strong quarterly results, with EPS of $5.96 topping estimates and revenue of $872.3 million beating expectations; revenue also rose 8.6% year over year.
• The company recently paid a quarterly dividend of $1.20 per share and has attracted mixed analyst sentiment, with an average rating of Hold and a consensus price target of $297.80.

Hsbc Holdings PLC cut its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 52.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,110 shares of the financial services provider's stock after selling 7,873 shares during the quarter. Hsbc Holdings PLC's holdings in Primerica were worth $1,844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC boosted its position in Primerica by 20.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 366 shares during the period. Goldman Sachs Group Inc. lifted its stake in Primerica by 27.7% in the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider's stock valued at $36,894,000 after buying an additional 28,129 shares during the last quarter. Empowered Funds LLC bought a new stake in Primerica in the first quarter valued at $1,763,000. Focus Partners Wealth boosted its holdings in shares of Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider's stock valued at $398,000 after acquiring an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 177 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 sale, the president owned 9,811 shares of the company's stock, valued at $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 33,696 shares in the company, valued at approximately $9,451,391.04. The trade was a 4.26% 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. Corporate insiders own 0.63% of the company's stock.

Primerica Stock Performance

Shares of PRI opened at $286.62 on Tuesday. Primerica, Inc. has a one year low of $230.09 and a one year high of $288.03. The stock's fifty day moving average is $276.11 and its 200-day moving average is $264.76. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 12.02 and a beta of 0.88.

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 for the quarter, topping the consensus estimate of $5.45 by $0.51. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.02 earnings per share. Analysts forecast that Primerica, Inc. will post 24.45 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, May 21st. Primerica's payout ratio is 20.13%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRI. Morgan Stanley increased their price objective on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $290.00 to $305.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Primerica from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $297.80.

Primerica 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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