UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 47,991 Shares of Primerica, Inc. $PRI

Key Points

• UBS Asset Management reduced its Primerica stake by 33.9% in the second quarter, selling 47,991 shares and retaining 93,371 shares valued at approximately $26.5 million. Institutional investors collectively own 90.88% of the company.
• Analyst sentiment remains cautious, with three Buy ratings and six Hold ratings producing a consensus rating of “Hold” and an average price target of $315.57.
• Primerica reported stronger-than-expected quarterly earnings of $6.41 per share, while revenue rose 9% year over year to $865.1 million. The company also declared a quarterly dividend of $1.20 per share, representing a 1.6% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 33.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,371 shares of the financial services provider's stock after selling 47,991 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.30% of Primerica worth $26,536,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new stake in Primerica during the second quarter worth about $29,000. SJS Investment Consulting Inc. increased its stake in shares of Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 74 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Primerica by 68.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Finally, Steph & Co. lifted its holdings in shares of Primerica by 38.0% during the first quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PRI shares. Morgan Stanley upped their price target on Primerica from $291.00 to $316.00 and gave the stock an "equal weight" rating in a research note on Monday, August 24th. Weiss Ratings cut Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. TD Cowen boosted their target price on Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their target price on Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. Finally, Truist Financial restated a "hold" rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $315.57.

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the sale, the president owned 8,011 shares in the company, valued at $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Cottle sold 279 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares of the company's stock, valued at approximately $1,113,072.87. The trade was a 7.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,079 shares of company stock worth $1,551,308 in the last quarter. Company insiders own 0.63% of the company's stock.

Primerica Trading Up 1.7%

Shares of PRI opened at $298.62 on Friday. The business's fifty day simple moving average is $305.63 and its two-hundred day simple moving average is $280.09. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 11.99 and a beta of 0.86.

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

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors 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 yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica's dividend payout ratio is 19.28%.

Primerica Company 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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