Public Employees Retirement System of Ohio Makes New $2.75 Million Investment in Primerica, Inc. $PRI

Key Points

• Ohio’s public employees’ retirement system acquired 9,689 Primerica shares worth approximately $2.75 million during the second quarter. Institutional investors own 90.88% of the company.
• Primerica exceeded quarterly EPS expectations, reporting $6.41 versus the $6.03 consensus, while revenue rose 9% year over year to $865.07 million. The company also declared a quarterly dividend of $1.20 per share, yielding 1.6% annually.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating and an average price target of $315.57; recent targets range from $268 to $360. Company insiders have sold 5,079 shares worth approximately $1.55 million over the last quarter.

Public Employees Retirement System of Ohio bought a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,689 shares of the financial services provider's stock, valued at approximately $2,754,000.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its position in shares of 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 in the last quarter. 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 period. Empowered Funds LLC acquired a new position in Primerica in the first quarter valued at approximately $1,763,000. Focus Partners Wealth boosted its holdings in shares of Primerica by 17.5% during the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider's stock worth $398,000 after buying an additional 208 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Primerica by 205.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock worth $75,000 after buying an additional 177 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Stock Down 0.7%

Shares of PRI opened at $295.61 on Friday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $327.28. The business's fifty day moving average is $305.87 and its 200 day moving average is $280.20. The stock has a market cap of $9.10 billion, a P/E ratio of 11.87 and a beta of 0.86.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts' consensus estimates of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the previous year, the business posted $5.46 EPS. Primerica's quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts expect that Primerica, Inc. will post 25.2 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica's dividend payout ratio is currently 19.28%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a research note on Tuesday, August 11th. TD Cowen increased their target price on shares of Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group raised their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a report on Friday, July 10th. Truist Financial reaffirmed a "hold" rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a research note on Thursday, August 27th. Finally, Weiss Ratings lowered shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Primerica currently has a consensus rating of "Hold" and an average target price of $315.57.

Insider Activity at Primerica

In other Primerica news, President Peter Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the transaction, the president owned 8,011 shares in the company, valued at approximately $2,504,639.15. The trade was a 18.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn Williams sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares of the company's stock, valued at $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 5,079 shares of company stock valued at $1,551,308. 0.63% of the stock is owned by corporate insiders.

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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