NewEdge Wealth LLC Sells 1,805 Shares of Primerica, Inc. $PRI

NewEdge Wealth LLC decreased its stake in Primerica, Inc. (NYSE:PRI) by 10.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,312 shares of the financial services provider’s stock after selling 1,805 shares during the period. NewEdge Wealth LLC’s holdings in Primerica were worth $3,835,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vista Investment Partners II LLC bought a new stake in shares of Primerica in the 4th quarter valued at $1,685,000. M&T Bank Corp raised its stake in Primerica by 1,155.8% during the fourth quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 29,578 shares during the last quarter. Moran Wealth Management LLC raised its stake in Primerica by 168.6% during the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock worth $5,302,000 after buying an additional 12,881 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new position in Primerica in the fourth quarter valued at $23,767,000. Finally, Oxbow Advisors LLC acquired a new position in Primerica in the fourth quarter valued at $3,170,000. 90.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRI. TD Cowen increased their price target on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Morgan Stanley boosted their price objective on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group raised their target price on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Primerica has a consensus rating of “Hold” and an average price target of $308.67.

Primerica Stock Up 1.9%

NYSE PRI opened at $314.13 on Friday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $317.69. The business has a 50 day moving average price of $286.72 and a 200-day moving average price of $270.74. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 13.17 and a beta of 0.88.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. During the same period last year, the business earned $5.02 EPS. Primerica’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Primerica, Inc. will post 24.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date was Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 1.5%. Primerica’s dividend payout ratio is presently 20.13%.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. The trade was a 15.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by company 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.