Royal Bank of Canada Has $10.55 Million Stock Position in Primerica, Inc. $PRI

Royal Bank of Canada grew its position in Primerica, Inc. (NYSE:PRI) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,103 shares of the financial services provider’s stock after buying an additional 2,528 shares during the quarter. Royal Bank of Canada owned approximately 0.14% of Primerica worth $10,546,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PRI. Integrated Wealth Concepts LLC lifted its position in shares of Primerica by 20.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 366 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Primerica by 27.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after purchasing an additional 28,129 shares in the last quarter. Empowered Funds LLC acquired a new stake in Primerica during the 1st quarter valued at $1,763,000. Focus Partners Wealth raised its stake in Primerica by 17.5% during the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 177 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRI has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods increased their price target 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. Jefferies Financial Group raised their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. TD Cowen boosted their price objective on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Primerica from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $308.67.

Primerica Stock Performance

PRI opened at $321.03 on Friday. The firm has a market cap of $10.01 billion, a P/E ratio of 12.89 and a beta of 0.87. The business has a 50 day moving average price of $295.47 and a 200 day moving average price of $274.70. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $881.00 million. During the same quarter last year, the firm posted $5.46 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, analysts anticipate that Primerica, Inc. will post 24.7 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 paid a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Primerica’s dividend payout ratio (DPR) is presently 19.28%.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at $2,743,548.04. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the transaction, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at approximately $9,451,391.04. This represents a 4.26% decrease in their position. 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. Company insiders own 0.63% of the company’s stock.

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.