Sanctuary Advisors LLC Invests $833,000 in Primerica, Inc. $PRI

Sanctuary Advisors LLC acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the 2nd quarter, HoldingsChannel reports. The fund acquired 2,931 shares of the financial services provider’s stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRI. Integrated Wealth Concepts LLC boosted its holdings in Primerica by 20.6% during the first 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 during the period. Goldman Sachs Group Inc. grew its position in shares of Primerica by 27.7% in the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after purchasing an additional 28,129 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Primerica in the first quarter worth about $1,763,000. Focus Partners Wealth increased its stake in shares of Primerica by 17.5% in the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Primerica by 205.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 177 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the transaction, the president directly owned 8,011 shares of the company’s stock, valued at approximately $2,504,639.15. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer owned 32,196 shares in the company, valued at approximately $10,309,159.20. This trade represents 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. In the last 90 days, insiders sold 5,079 shares of company stock worth $1,551,308. 0.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRI has been the topic of a number of research analyst reports. TD Cowen raised their target price on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Weiss Ratings cut Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group raised their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Truist Financial restated a “hold” rating and issued a $320.00 price objective (down from $370.00) on shares of Primerica in a research note on Thursday. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $315.57.

Primerica Trading Down 0.5%

Shares of PRI stock opened at $289.86 on Friday. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28. The company has a market capitalization of $8.92 billion, a P/E ratio of 11.64 and a beta of 0.87. The stock has a 50 day moving average of $304.77 and a two-hundred day moving average of $278.97.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.Primerica’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.46 earnings per share. Sell-side analysts predict that Primerica, Inc. will post 25.09 earnings per share for the current fiscal 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 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 dividend yield of 1.7%. Primerica’s dividend payout ratio is currently 19.28%.

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.