Kingsview Wealth Management LLC Makes New Investment in Primerica, Inc. $PRI

Kingsview Wealth Management LLC purchased a new position in Primerica, Inc. (NYSE:PRI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,698 shares of the financial services provider’s stock, valued at approximately $1,619,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PRI. Integrated Wealth Concepts LLC grew its position in Primerica by 20.6% in the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 366 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 valued at $36,894,000 after purchasing an additional 28,129 shares in the last quarter. Empowered Funds LLC purchased a new stake in Primerica during the first quarter valued at about $1,763,000. Focus Partners Wealth lifted its stake in Primerica by 17.5% during 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 last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 177 shares during the last quarter. 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 Primerica stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total value of $87,502.77. Following the transaction, the director directly owned 3,549 shares of the company’s stock, valued at $1,113,072.87. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the sale, the president owned 8,011 shares of the company’s stock, valued at $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 5,079 shares of company stock valued at $1,551,308. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PRI has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price objective on Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Truist Financial reiterated a “hold” rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a research report on Thursday. Morgan Stanley increased their price target on shares of Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research report on Monday, August 24th. Weiss Ratings downgraded shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group boosted their price objective on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $315.57.

Primerica Trading Down 0.5%

PRI opened at $289.86 on Friday. The company has a market cap of $8.92 billion, a P/E ratio of 11.64 and a beta of 0.87. The business’s 50-day moving average price is $304.77 and its 200-day moving average price is $278.97. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $327.28.

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

Primerica Announces Dividend

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