Primerica, Inc. $PRI Stake Increased by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in Primerica, Inc. by 936.5% in Q2, now holding approximately $9.15 million worth of shares.
• CEO Glenn J. Williams sold 2,500 shares of Primerica stock, reducing his position by 6.43% and retaining approximately $9.54 million in shares.
• Primerica reported $5.46 earnings per share for Q2, surpassing the consensus estimate, with a net margin of 21.48% and a revenue growth of 0.3% year-over-year.

Callan Family Office LLC grew its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 936.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,447 shares of the financial services provider's stock after purchasing an additional 30,220 shares during the period. Callan Family Office LLC owned approximately 0.10% of Primerica worth $9,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hilltop National Bank purchased a new position in shares of Primerica during the 2nd quarter valued at $31,000. AdvisorNet Financial Inc grew its holdings in shares of Primerica by 108.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 77 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Primerica by 2,300.0% during the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 161 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Primerica during the 1st quarter valued at $64,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 130 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer owned 36,392 shares in the company, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company's stock.

Primerica Price Performance

Primerica stock opened at $269.26 on Friday. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.30 and a beta of 0.97. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The firm has a fifty day moving average price of $269.72 and a two-hundred day moving average price of $267.59.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same quarter in the previous year, the firm posted $4.71 EPS. The business's revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were issued a dividend of $1.04 per share. The ex-dividend date was Friday, August 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.5%. Primerica's payout ratio is presently 20.55%.

Analysts Set New Price Targets

PRI has been the topic of several research analyst reports. Piper Sandler set a $292.00 price target on shares of Primerica and gave the company a "neutral" rating in a report on Tuesday. Jefferies Financial Group reduced their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Morgan Stanley reduced 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 note on Tuesday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Primerica in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $314.86.

Primerica Company 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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