Oppenheimer Asset Management Inc. Invests $757,000 in Primerica, Inc. $PRI

Oppenheimer Asset Management Inc. purchased a new stake in Primerica, Inc. (NYSE:PRI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,665 shares of the financial services provider’s stock, valued at approximately $757,000.

Several other institutional investors have also made changes to their positions in the stock. SJS Investment Consulting Inc. grew its stake in Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after buying an additional 74 shares in the last quarter. Root Financial Partners LLC increased its holdings in Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after buying an additional 61 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Primerica by 68.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. Torren Management LLC acquired a new position in shares of Primerica in the 4th quarter valued at approximately $50,000. Finally, Steph & Co. lifted its holdings in shares of Primerica by 38.0% during the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 54 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Primerica Price Performance

PRI stock opened at $309.48 on Tuesday. The company has a 50 day simple moving average of $301.50 and a 200 day simple moving average of $277.05. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 12.43 and a beta of 0.87. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million during the quarter, compared to the consensus estimate of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.46 EPS. On average, equities research analysts anticipate that Primerica, Inc. will post 24.85 EPS for the current fiscal year.

Primerica Dividend Announcement

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 paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 21st. Primerica’s dividend payout ratio is presently 19.28%.

Insider Activity at Primerica

In related news, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was 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 of the company’s stock, valued at $1,113,072.87. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,800 shares of the business’s 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 $2,504,639.15. This represents a 18.35% decrease in their position. 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 a total of 5,079 shares of company stock valued at $1,551,308 in the last 90 days. 0.63% of the stock is owned by corporate insiders.

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.