Renaissance Technologies LLC Makes New $13.23 Million Investment in Primerica, Inc. $PRI

Renaissance Technologies LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI) in the first quarter, Holdings Channel.com reports. The firm purchased 52,820 shares of the financial services provider’s stock, valued at approximately $13,230,000.

Several other institutional investors have also made changes to their positions in PRI. SJS Investment Consulting Inc. grew its stake in shares of 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 in the last quarter. V Square Quantitative Management LLC acquired a new position in Primerica in the fourth quarter worth approximately $30,000. Root Financial Partners LLC raised its position in 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 acquiring an additional 61 shares in the last quarter. Smartleaf Asset Management LLC raised its position in 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 acquiring an additional 73 shares in the last quarter. Finally, Steph & Co. raised its position in 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 acquiring an additional 54 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PRI. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $305.00 to $323.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. TD Cowen increased their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley raised their price target on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings raised shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group upped their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $308.67.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction on Friday, June 12th. The shares were sold at an average price of $280.49, for a total value of $420,735.00. Following the transaction, the chief executive officer owned 33,696 shares in the company, valued at $9,451,391.04. This trade represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their position. 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 corporate insiders.

Primerica Stock Performance

PRI opened at $320.75 on Friday. The firm has a market cap of $10.00 billion, a P/E ratio of 13.45 and a beta of 0.88. The business has a 50 day moving average price of $290.81 and a 200 day moving average price of $272.78. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $326.78.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $855.36 million. During the same quarter last year, the company posted $5.02 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that Primerica, Inc. will post 24.65 earnings per share for the current fiscal year.

Primerica Dividend Announcement

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

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.