Primerica, Inc. $PRI Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in Primerica, Inc. (NYSE:PRI) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,989 shares of the financial services provider’s stock after purchasing an additional 3,376 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Primerica were worth $3,754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRI. SJS Investment Consulting Inc. boosted its position in shares of Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Primerica in the fourth quarter valued at about $30,000. Root Financial Partners LLC raised its holdings in shares of Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after buying an additional 61 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after buying an additional 73 shares during the period. Finally, Steph & Co. lifted its position in Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica 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 completion of the sale, the president owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This trade represents a 15.50% 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. Corporate insiders own 0.63% of the company’s stock.

Primerica Stock Performance

Shares of NYSE PRI opened at $310.80 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $317.69. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 13.03 and a beta of 0.88. The stock’s 50-day simple moving average is $282.78 and its 200-day simple moving average is $268.93.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping the consensus estimate of $5.45 by $0.51. The business had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.02 earnings per share. As a group, research analysts predict that Primerica, Inc. will post 24.54 EPS for the current year.

Primerica Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group upped their price target on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Morgan Stanley lifted their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. 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. Finally, Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $298.40.

Primerica 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.