State of Wyoming Invests $2.24 Million in Primerica, Inc. $PRI

State of Wyoming bought a new stake in shares of Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,866 shares of the financial services provider’s stock, valued at approximately $2,236,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRI. SJS Investment Consulting Inc. lifted its stake in Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 74 shares in the last quarter. Root Financial Partners LLC grew its position in shares of 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 purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 73 shares in the last quarter. Torren Management LLC bought a new stake in shares of Primerica in the fourth quarter worth about $50,000. Finally, Steph & Co. lifted its position in shares of Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after buying an additional 54 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

Shares of PRI stock opened at $313.33 on Friday. The company has a market capitalization of $9.64 billion, a P/E ratio of 12.58 and a beta of 0.87. The company’s 50-day simple moving average is $300.57 and its two-hundred day simple moving average is $276.53. Primerica, Inc. has a one year low of $230.09 and a one year high of $327.28.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.Primerica’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.46 earnings per share. On average, research analysts expect that Primerica, Inc. will post 24.85 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. Shareholders of record on Friday, August 21st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Primerica’s payout ratio is 19.28%.

Analyst Ratings Changes

A number of brokerages recently commented on PRI. TD Cowen increased their price target on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley lifted their price objective on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Weiss Ratings downgraded Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday. 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 report on Tuesday, August 11th. Finally, Jefferies Financial Group increased their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $310.67.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the 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 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the transaction, the chief executive officer owned 32,196 shares in the company, valued at approximately $10,309,159.20. This 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 valued at $1,491,890 in the last ninety days. 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.