Callan Family Office LLC Acquires 30,220 Shares of Primerica, Inc. $PRI

Callan Family Office LLC boosted its holdings in Primerica, Inc. (NYSE:PRI) by 936.5% during the second quarter, HoldingsChannel.com reports. The fund owned 33,447 shares of the financial services provider’s stock after purchasing an additional 30,220 shares during the period. Callan Family Office LLC’s holdings in Primerica were worth $9,153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRI. UMB Bank n.a. increased its stake in Primerica by 89.2% in the first quarter. UMB Bank n.a. now owns 454 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 214 shares during the period. Farther Finance Advisors LLC increased its stake in Primerica by 8.2% in the first quarter. Farther Finance Advisors LLC now owns 1,914 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 145 shares during the period. Pallas Capital Advisors LLC bought a new stake in Primerica in the first quarter valued at about $280,000. GAMMA Investing LLC increased its stake in Primerica by 38.1% in the first quarter. GAMMA Investing LLC now owns 1,558 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 430 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Primerica in the first quarter valued at about $389,000. Institutional investors own 90.88% of the company’s stock.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRI. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the stock a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Jefferies Financial Group decreased their price objective on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Finally, Morgan Stanley decreased their price objective on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.86.

Primerica Trading Down 0.2%

Shares of PRI stock opened at $269.26 on Friday. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The firm’s 50 day moving average is $269.72 and its 200-day moving average is $267.59. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 13.30 and a beta of 0.97.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. During the same period in the prior year, the business earned $4.71 earnings per share. Primerica’s quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, August 22nd. Primerica’s dividend payout ratio is presently 20.55%.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.