Danske Bank A S Makes New Investment in Primerica, Inc. $PRI

Danske Bank A S purchased a new position in Primerica, Inc. (NYSE:PRI) during the second quarter, HoldingsChannel.com reports. The fund purchased 15,172 shares of the financial services provider’s stock, valued at approximately $4,312,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hantz Financial Services Inc. raised its stake in Primerica by 18.1% during the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 39 shares during the period. Pacer Advisors Inc. boosted its stake in Primerica by 1.1% in the first quarter. Pacer Advisors Inc. now owns 3,790 shares of the financial services provider’s stock valued at $949,000 after acquiring an additional 40 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of Primerica by 1.2% during the second quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 45 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Primerica by 0.7% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock valued at $1,794,000 after purchasing an additional 46 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in shares of Primerica by 6.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 757 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 47 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Primerica Trading Down 1.0%

NYSE PRI opened at $294.95 on Friday. The company has a 50-day moving average price of $303.34 and a two-hundred day moving average price of $278.03. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 11.85 and a beta of 0.87.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The company had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.46 earnings per share. As a group, equities research analysts expect that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica’s dividend payout ratio (DPR) is currently 19.28%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer owned 32,196 shares of the company’s stock, valued at $10,309,159.20. The trade was a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the transaction, the director owned 3,549 shares of the company’s stock, valued at $1,113,072.87. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,079 shares of company stock valued at $1,551,308 in the last quarter. Corporate insiders own 0.63% of the company’s stock.

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.