Redwood Investment Management LLC Takes $1.16 Million Position in Primerica, Inc. $PRI

Key Points

• Redwood Investment Management purchased 4,086 Primerica shares worth approximately $1.16 million in the second quarter. Institutional investors collectively 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, representing a 1.6% annualized yield.
• Insiders sold 5,079 shares worth $1.55 million over the past 90 days under pre-arranged trading plans. Analysts maintain a consensus “Hold” rating with an average price target of $314.83.

Redwood Investment Management LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,086 shares of the financial services provider's stock, valued at approximately $1,161,000.

Several other large investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its holdings in Primerica by 20.6% during the first 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 last quarter. Goldman Sachs Group Inc. increased its stake in shares of Primerica by 27.7% in the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider's stock worth $36,894,000 after purchasing an additional 28,129 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Primerica in the first quarter worth about $1,763,000. Focus Partners Wealth raised its position in shares of Primerica by 17.5% in the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 177 shares during the period. 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 company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the transaction, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. 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 J. Williams sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares in the company, valued at $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,079 shares of company stock valued at $1,551,308. 0.63% of the stock is owned by corporate insiders.

Primerica Stock Performance

Primerica stock opened at $300.99 on Thursday. The stock has a market cap of $9.26 billion, a P/E ratio of 12.09 and a beta of 0.87. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The firm's fifty day moving average price is $304.41 and its 200-day moving average price is $278.79.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.38. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. During the same quarter last year, the company earned $5.46 earnings per share. The firm's quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts predict that Primerica, Inc. will post 25.09 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be given a dividend of $1.20 per share. 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 (DPR) is 19.28%.

Wall Street Analyst Weigh In

Several research firms recently commented on PRI. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a report on Tuesday, August 11th. TD Cowen boosted their target price on shares of Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Jefferies Financial Group raised their price target on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a report on Friday, July 10th. Weiss Ratings lowered Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley increased their price objective on Primerica from $291.00 to $316.00 and gave the stock an "equal weight" rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $314.83.

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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