9,689 Shares in Primerica, Inc. $PRI Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in Primerica, Inc. (NYSE:PRI) in the second quarter, Holdings Channel reports. The fund acquired 9,689 shares of the financial services provider’s stock, valued at approximately $2,754,000.

Several other hedge funds have also recently modified their holdings of PRI. Capstone Investment Advisors LLC purchased a new position in shares of Primerica in the 2nd quarter worth approximately $980,000. Redwood Investment Management LLC bought a new stake in Primerica during the second quarter worth $1,161,000. Payne Capital Management LLC bought a new stake in Primerica during the second quarter worth $205,000. Corient Private Wealth LP purchased a new position in Primerica in the second quarter worth $6,657,000. Finally, Bamco Inc. NY purchased a new position in Primerica in the second quarter worth $190,827,000. Institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

PRI opened at $295.61 on Friday. The firm has a market capitalization of $9.10 billion, a P/E ratio of 11.87 and a beta of 0.86. Primerica, Inc. has a one year low of $230.09 and a one year high of $327.28. The company has a fifty day moving average price of $305.87 and a 200-day moving average price of $280.20.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.38. The company 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 firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $5.46 earnings per share. On average, analysts expect that Primerica, Inc. will post 25.2 earnings per share for the current year.

Primerica Announces Dividend

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

Insider Activity at Primerica

In other news, Director Amber Cottle sold 279 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total transaction of $87,502.77. Following the sale, the director owned 3,549 shares in the company, valued at approximately $1,113,072.87. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 1,500 shares of Primerica stock in a transaction on Monday, August 10th. The stock was sold at an average price of $320.20, for a total transaction of $480,300.00. Following the sale, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at $10,309,159.20. This represents a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,079 shares of company stock valued at $1,551,308 over the last three months. 0.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PRI has been the subject of several research analyst reports. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. TD Cowen boosted their price target on shares of Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Truist Financial restated a “hold” rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a research report on Thursday, August 27th. Morgan Stanley raised their price objective on shares of Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Primerica presently has an average rating of “Hold” and a consensus price target of $315.57.

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.