Redwood Investment Management LLC Makes New $1.16 Million Investment in Primerica, Inc. $PRI

Redwood Investment Management LLC acquired a new position in Primerica, Inc. (NYSE:PRI) in the second quarter, Holdings Channel.com reports. The firm acquired 4,086 shares of the financial services provider’s stock, valued at approximately $1,161,000.

Several other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in Primerica by 18.1% in the 4th quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after buying an additional 39 shares during the last quarter. Pacer Advisors Inc. grew its position in Primerica by 1.1% during 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 last quarter. Orion Porfolio Solutions LLC raised its stake 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 worth $1,058,000 after acquiring an additional 45 shares in the last quarter. SkyView Investment Advisors LLC raised its stake 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 worth $1,794,000 after acquiring an additional 46 shares in the last quarter. Finally, JLB & Associates Inc. lifted its holdings in shares of Primerica by 0.3% in the 4th quarter. JLB & Associates Inc. now owns 18,679 shares of the financial services provider’s stock worth $4,826,000 after acquiring an additional 51 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Amber Lynne Cottle sold 279 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total transaction of $87,502.77. Following the sale, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. The trade was a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction on Monday, August 10th. The shares were 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 in the company, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,079 shares of company stock worth $1,551,308 in the last quarter. 0.63% of the stock is owned by company insiders.

Analyst Ratings Changes

PRI has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley raised their price objective on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.83.

Primerica Trading Up 1.1%

NYSE:PRI opened at $300.99 on Thursday. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 12.09 and a beta of 0.87. The company has a 50-day moving average price of $304.41 and a 200-day moving average price of $278.79.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. Primerica’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $5.46 earnings per share. Equities analysts forecast that Primerica, Inc. will post 25.09 EPS for the current fiscal year.

Primerica Announces Dividend

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

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.