Vise Technologies Inc. Takes $1.52 Million Position in Primerica, Inc. $PRI

Key Points

• Vise Technologies initiated a $1.52 million position in Primerica during the second quarter by purchasing 5,365 shares. Institutional investors and hedge funds collectively own 90.88% of the company.
• Primerica reported adjusted earnings of $6.41 per share for its latest quarter, exceeding estimates of $6.03, while revenue rose 9% year over year to $865.07 million but fell short of expectations.
• Analysts maintain a generally neutral view, with a consensus “Hold” rating and a $310.67 price target. Primerica also declared a quarterly dividend of $1.20 per share, representing a 1.6% annualized yield.

Vise Technologies Inc. purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,365 shares of the financial services provider's stock, valued at approximately $1,525,000.

Other institutional investors have also made changes to their positions in the company. SJS Investment Consulting Inc. increased its stake in Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock valued at $29,000 after buying an additional 74 shares during the period. Root Financial Partners LLC lifted its position in Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock worth $44,000 after buying an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider's stock valued at $47,000 after buying an additional 73 shares during the period. Steph & Co. boosted its stake in shares of Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after buying an additional 54 shares during the period. Finally, Torren Management LLC purchased a new position in shares of Primerica during the 4th quarter valued at $50,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was 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 of the company's stock, valued at approximately $2,504,639.15. This trade represents a 18.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $480,300.00. Following the completion of the transaction, the chief executive officer directly owned 32,196 shares in the company, valued at $10,309,159.20. The trade was 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 sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PRI shares. Morgan Stanley upped their price target on shares of Primerica from $280.00 to $291.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods boosted their target price on Primerica from $323.00 to $335.00 and gave the company a "market perform" rating in a research note on Tuesday, August 11th. Jefferies Financial Group upped their target price on Primerica from $266.00 to $268.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Weiss Ratings downgraded Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, TD Cowen raised their price target on Primerica from $322.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $310.67.

Primerica Trading Down 1.0%

Primerica stock opened at $294.95 on Friday. Primerica, Inc. has a 1-year low of $230.09 and a 1-year high of $327.28. The firm's fifty day simple moving average is $303.34 and its 200-day simple moving average is $278.03. The company has a market capitalization of $9.08 billion, a P/E ratio of 11.85 and a beta of 0.87.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million during the quarter, compared to analysts' expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. Primerica's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.46 earnings per share. On average, equities research analysts predict that Primerica, Inc. will post 25.02 earnings per share for the current year.

Primerica Dividend Announcement

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

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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