Quantbot Technologies LP Invests $1.83 Million in Primerica, Inc. $PRI

Quantbot Technologies LP acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,426 shares of the financial services provider’s stock, valued at approximately $1,826,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Primerica in the 2nd quarter valued at approximately $848,161,000. Bank of Montreal Can increased its position in Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after buying an additional 1,287,243 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Primerica during the second quarter worth approximately $79,044,000. Invesco Ltd. lifted its holdings in shares of Primerica by 200.3% during the fourth quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Primerica in the fourth quarter valued at approximately $40,714,000. Institutional investors own 90.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Amber Lynne Cottle sold 279 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the transaction, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. This represents a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the transaction, the president directly owned 8,011 shares of the company’s stock, valued at $2,504,639.15. The trade was a 18.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,079 shares of company stock worth $1,551,308 over the last 90 days. Corporate insiders own 0.63% of the company’s stock.

Primerica Stock Up 1.3%

Primerica stock opened at $299.79 on Tuesday. The business has a 50 day moving average price of $303.73 and a two-hundred day moving average price of $278.39. 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 $9.23 billion, a price-to-earnings ratio of 12.04 and a beta of 0.87.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.38. The company had revenue of $865.07 million for 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 revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.46 EPS. On average, analysts expect that Primerica, Inc. will post 25.02 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company 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 of this dividend is Friday, August 21st. Primerica’s dividend payout ratio (DPR) is 19.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRI. TD Cowen raised their price objective on shares of 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 upped their target price on shares of Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Morgan Stanley raised their price target on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus price target of $314.83.

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.