Qsemble Capital Management LP Takes Position in Primerica, Inc. (NYSE:PRI)

Qsemble Capital Management LP acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,076 shares of the financial services provider’s stock, valued at approximately $255,000.

Other large investors have also recently modified their holdings of the company. ORG Partners LLC purchased a new position in Primerica in the second quarter worth $30,000. Benjamin F. Edwards & Company Inc. raised its stake in Primerica by 493.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the last quarter. Blue Trust Inc. increased its stake in Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 60 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Primerica in the second quarter worth $71,000. Finally, O Dell Group LLC acquired a new stake in shares of Primerica during the fourth quarter worth $153,000. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of several research reports. Jefferies Financial Group upped their target price on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Truist Financial raised their price objective on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods lifted their target price on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler started coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Finally, StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $275.20.

Primerica Stock Up 0.5 %

Primerica stock opened at $254.62 on Friday. The business’s 50-day moving average price is $252.18 and its 200 day moving average price is $239.65. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 15.50 and a beta of 1.09. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $265.27.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $3.99 EPS. Equities analysts expect that Primerica, Inc. will post 17.94 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a $0.90 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.41%. Primerica’s payout ratio is presently 21.91%.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,500 shares of company stock worth $1,657,015. Company insiders own 0.85% of the company’s stock.

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.