OneDigital Investment Advisors LLC Makes New Investment in Primerica, Inc. $PRI

OneDigital Investment Advisors LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,283 shares of the financial services provider’s stock, valued at approximately $1,786,000.

Other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp increased its position in Primerica by 1,155.8% during the 4th quarter. M&T Bank Corp now owns 32,137 shares of the financial services provider’s stock valued at $8,303,000 after purchasing an additional 29,578 shares during the period. Moran Wealth Management LLC boosted its stake in shares of Primerica by 168.6% during the fourth quarter. Moran Wealth Management LLC now owns 20,522 shares of the financial services provider’s stock valued at $5,302,000 after purchasing an additional 12,881 shares in the last quarter. Arbejdsmarkedets Tillaegspension purchased a new position in Primerica during the fourth quarter valued at approximately $23,767,000. Jefferies Financial Group Inc. bought a new position in Primerica in the fourth quarter worth approximately $2,289,000. Finally, Oxbow Advisors LLC bought a new position in Primerica in the fourth quarter worth approximately $3,170,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Amber Lynne Cottle sold 279 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total transaction of $87,502.77. Following the transaction, the director directly owned 3,549 shares of the company’s stock, valued at $1,113,072.87. This represents a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares of the company’s stock, valued at approximately $10,309,159.20. This trade represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,279 shares of company stock valued at $988,538 in the last three months. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the topic of several recent research reports. Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods boosted their price target on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. TD Cowen upped their price objective on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group raised their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Primerica has a consensus rating of “Hold” and an average target price of $310.67.

Primerica Stock Down 0.1%

NYSE:PRI opened at $313.33 on Monday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The firm has a 50 day moving average of $300.57 and a 200 day moving average of $276.67. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 12.58 and a beta of 0.87.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.38. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. During the same period last year, the firm earned $5.46 earnings per share. Primerica’s revenue was up 9.0% compared to the same quarter last year. As a group, analysts expect that Primerica, Inc. will post 24.85 EPS for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. Primerica’s dividend payout ratio (DPR) is presently 19.28%.

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.