Man Group plc Buys Shares of 27,199 Primerica, Inc. $PRI

Man Group plc purchased a new position in shares of Primerica, Inc. (NYSE:PRI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 27,199 shares of the financial services provider’s stock, valued at approximately $7,730,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRI. Integrated Wealth Concepts LLC increased its stake in shares of 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. raised its holdings in Primerica by 27.7% during the first 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 in the first quarter worth approximately $1,763,000. Focus Partners Wealth lifted its position in 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. boosted its stake in Primerica by 205.8% during the 1st 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 currently owned by institutional investors.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 1,500 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the transaction, the chief executive officer owned 32,196 shares in the company, valued at $10,309,159.20. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the transaction, the president directly owned 8,011 shares in the company, valued at $2,504,639.15. This represents a 18.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,079 shares of company stock worth $1,551,308 in the last quarter. 0.63% of the stock is owned by company insiders.

Primerica Stock Performance

NYSE PRI opened at $289.86 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28. The business’s fifty day moving average is $304.77 and its two-hundred day moving average is $278.97. The stock has a market capitalization of $8.92 billion, a P/E ratio of 11.64 and a beta of 0.87.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $5.46 EPS. On average, research analysts forecast that Primerica, Inc. will post 25.09 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 21st. Primerica’s dividend payout ratio is currently 19.28%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. TD Cowen lifted their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Truist Financial reiterated a “hold” rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a research report on Thursday. Morgan Stanley upped their price target on shares of Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $315.57.

About Primerica

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.