1,087 Shares in Primerica, Inc. (NYSE:PRI) Acquired by Argent Trust Co

Argent Trust Co purchased a new stake in shares of Primerica, Inc. (NYSE:PRI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,087 shares of the financial services provider’s stock, valued at approximately $257,000.

Several other large investors have also recently made changes to their positions in the business. ORG Partners LLC bought a new position in shares of Primerica during the 2nd quarter valued at $30,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 acquiring an additional 60 shares during the period. Fidelis Capital Partners LLC bought a new position in Primerica during the 1st quarter worth approximately $163,000. Finally, O Dell Group LLC purchased a new position in Primerica in the 4th quarter worth approximately $153,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,500 shares of company stock worth $1,657,015. 0.85% of the stock is owned by corporate insiders.

Primerica Price Performance

Shares of NYSE PRI opened at $258.49 on Friday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $265.27. The stock has a market capitalization of $8.74 billion, a P/E ratio of 15.73 and a beta of 1.09. The company’s 50-day moving average is $254.26 and its 200 day moving average is $240.06.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same period in the previous year, the firm posted $3.99 EPS. The business’s revenue was up 16.7% on a year-over-year basis. Research analysts anticipate that Primerica, Inc. will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.39%. This is a boost from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date was Wednesday, August 21st. Primerica’s dividend payout ratio is presently 21.91%.

Analysts Set New Price Targets

PRI has been the topic of several recent analyst reports. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Jefferies Financial Group boosted their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley increased their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods boosted their price target on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, Truist Financial increased their price objective on Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $275.20.

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.