Oxbow Advisors LLC Invests $3.57 Million in Primerica, Inc. $PRI

Oxbow Advisors LLC acquired a new position in Primerica, Inc. (NYSE:PRI) in the 2nd quarter, HoldingsChannel reports. The fund acquired 12,575 shares of the financial services provider’s stock, valued at approximately $3,574,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRI. SJS Investment Consulting Inc. lifted its holdings in Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 74 shares during the last quarter. Root Financial Partners LLC boosted its position in Primerica by 52.6% during the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Primerica by 68.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Steph & Co. increased its stake in shares of Primerica by 38.0% in the first quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 54 shares in the last quarter. Finally, Torren Management LLC bought a new stake in shares of Primerica in the fourth quarter valued at approximately $50,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Down 0.6%

PRI stock opened at $308.20 on Wednesday. The firm has a 50 day moving average of $302.22 and a 200-day moving average of $277.39. The firm has a market capitalization of $9.49 billion, a P/E ratio of 12.38 and a beta of 0.87. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping 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 business had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. During the same quarter in the prior year, the firm posted $5.46 EPS. Primerica’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts predict that Primerica, Inc. will post 25.02 EPS for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. Primerica’s dividend payout ratio is presently 19.28%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen upped their price target on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley lifted their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Weiss Ratings cut shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Jefferies Financial Group increased their target price on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $310.67.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president owned 8,011 shares in the company, valued at approximately $2,504,639.15. This trade represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of the stock in a transaction on 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 owned 3,549 shares in the company, valued at $1,113,072.87. This trade represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,079 shares of company stock valued at $1,551,308. 0.63% of the stock is currently owned by company insiders.

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.