Argos Wealth Advisors LLC Acquires New Position in Primerica, Inc. $PRI

Argos Wealth Advisors LLC acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, Holdings Channel.com reports. The fund acquired 1,963 shares of the financial services provider’s stock, valued at approximately $507,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. Dimensional Fund Advisors LP lifted its stake in Primerica by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after acquiring an additional 2,525 shares during the last quarter. First Trust Advisors LP lifted its stake in Primerica by 12.4% in the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after acquiring an additional 54,158 shares during the last quarter. AQR Capital Management LLC lifted its stake in Primerica by 25.5% in the third quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock valued at $96,089,000 after acquiring an additional 70,510 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in Primerica by 2.6% in the third quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock valued at $71,278,000 after acquiring an additional 6,623 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Primerica by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 216,312 shares of the financial services provider’s stock valued at $56,150,000 after acquiring an additional 31,876 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Primerica in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $290.00 price objective on shares of Primerica in a research note on Thursday, March 26th. Morgan Stanley reduced their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $293.60.

Primerica Price Performance

NYSE:PRI opened at $273.83 on Wednesday. The stock has a market cap of $8.54 billion, a P/E ratio of 11.48 and a beta of 0.91. Primerica, Inc. has a one year low of $230.09 and a one year high of $288.03. The company has a fifty day moving average price of $262.70 and a 200 day moving average price of $260.48.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.45 by $0.51. The firm had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.02 EPS. As a group, equities research analysts anticipate that Primerica, Inc. will post 23.92 EPS for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Primerica’s dividend payout ratio is presently 20.13%.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,800 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total transaction of $454,284.00. Following the sale, the president directly owned 11,611 shares in the company, valued at approximately $2,930,384.18. This represents a 13.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.63% of the stock is currently owned by corporate insiders.

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.