Man Group plc Makes New $7.73 Million Investment in Primerica, Inc. $PRI

Man Group plc acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 27,199 shares of the financial services provider’s stock, valued at approximately $7,730,000. Man Group plc owned about 0.09% of Primerica as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Primerica in the 2nd quarter valued at about $848,161,000. Bank of Montreal Can boosted its holdings in Primerica by 5,277.5% in the 4th quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock worth $338,874,000 after acquiring an additional 1,287,243 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Primerica in the second quarter valued at $79,044,000. Invesco Ltd. boosted its position in Primerica by 200.3% in the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock valued at $92,414,000 after buying an additional 238,571 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd purchased a new position in Primerica in the fourth quarter valued at about $40,714,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity

In related news, Director Amber Lynne Cottle sold 279 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 3,549 shares of the company’s stock, valued at $1,113,072.87. This represents a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $320.20, for a total value of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 5,079 shares of company stock valued at $1,551,308. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

PRI has been the topic of a number of research analyst reports. TD Cowen increased their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. Truist Financial restated a “hold” rating and issued a $320.00 target price (down from $370.00) on shares of Primerica in a research note on Thursday. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group increased their price target on Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Primerica has a consensus rating of “Hold” and a consensus price target of $315.57.

Primerica Stock Performance

Shares of PRI opened at $289.86 on Friday. The firm has a fifty day moving average of $304.77 and a 200-day moving average of $278.97. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 11.64 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 released its quarterly earnings data 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. The business had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.46 EPS. Analysts predict that Primerica, Inc. will post 25.09 EPS for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be paid a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Primerica’s dividend payout ratio (DPR) is presently 19.28%.

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.