Jupiter Topco LLC Purchases Shares of 14,029 Primerica, Inc. $PRI

Jupiter Topco LLC purchased a new stake in Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,029 shares of the financial services provider’s stock, valued at approximately $3,989,000.

A number of other hedge funds also recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its holdings in Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 39 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Primerica by 1.1% during the 1st quarter. Pacer Advisors Inc. now owns 3,790 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 40 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 45 shares during the period. SkyView Investment Advisors LLC lifted its position in shares of Primerica by 0.7% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,942 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 46 shares during the period. Finally, JLB & Associates Inc. boosted its stake in shares of Primerica by 0.3% in the 4th quarter. JLB & Associates Inc. now owns 18,679 shares of the financial services provider’s stock valued at $4,826,000 after purchasing an additional 51 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Up 0.9%

NYSE:PRI opened at $290.13 on Wednesday. The company has a fifty day moving average of $305.04 and a 200-day moving average of $279.46. The firm has a market capitalization of $8.93 billion, a P/E ratio of 11.65 and a beta of 0.86. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $327.28.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. Primerica’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.46 earnings per share. On average, analysts anticipate that Primerica, Inc. will post 25.2 EPS for the current fiscal year.

Primerica Dividend Announcement

The business 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 dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s dividend payout ratio is 19.28%.

Insider Activity

In other news, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $313.63, for a total value of $87,502.77. Following the completion of the sale, the director directly owned 3,549 shares in the company, valued at $1,113,072.87. This trade 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 business’s 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 directly owned 32,196 shares of the company’s stock, valued at $10,309,159.20. The trade was a 4.45% decrease in their ownership of the stock. 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 worth $1,551,308 in the last three months. Company insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRI shares. TD Cowen increased their price objective on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Weiss Ratings downgraded Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Jefferies Financial Group lifted their price objective on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their price objective on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Monday, August 24th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $315.57.

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.