Steward Partners Investment Advisory LLC Acquires 149 Shares of Primerica, Inc. (NYSE:PRI) (2024)

Posted by Defense World Staff on Jun 9th, 2024

Steward Partners Investment Advisory LLC raised its holdings in shares of Primerica, Inc. (NYSE:PRI – Free Report) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,603 shares of the financial services provider’s stock after acquiring an additional 149 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Primerica were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Intech Investment Management LLC raised its holdings in Primerica by 1.4% during the 4th quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 55 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Primerica by 4.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock worth $47,136,000 after purchasing an additional 9,198 shares during the period. Aigen Investment Management LP bought a new position in shares of Primerica in the fourth quarter worth $351,000. Franklin Resources Inc. increased its holdings in shares of Primerica by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 51,846 shares of the financial services provider’s stock worth $10,668,000 after purchasing an additional 699 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Primerica by 30.9% in the fourth quarter. Assetmark Inc. now owns 882 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 208 shares during the period. Institutional investors own 90.88% of the company’s stock.

Insider Activity

In related news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now owns 3,379 shares in the company, valued at approximately $829,307.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the completion of the sale, the insider now directly owns 100 shares of the company’s stock, valued at $24,981. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,993 shares of company stock valued at $1,687,302. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PRI shares. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Truist Financial increased their target price on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Morgan Stanley lifted their price target on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $245.50.

Get Our Latest Analysis on PRI

Primerica Trading Down 0.4 %

PRI opened at $226.39 on Friday. The company has a market cap of $7.79 billion, a P/E ratio of 13.78 and a beta of 1.08. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $256.56. The business’s 50-day moving average price is $225.62 and its 200-day moving average price is $227.18.

Primerica (NYSE:PRI – Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The company had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. During the same quarter in the previous year, the firm posted $3.49 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Primerica, Inc. will post 17.66 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, May 20th. Primerica’s payout ratio is 18.26%.

Primerica Profile

(Free Report)

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.