Engineers Gate Manager LP Purchases 5,694 Shares of Primerica, Inc. $PRI

by · The Markets Daily

Engineers Gate Manager LP raised its position in Primerica, Inc. (NYSE:PRIFree Report) by 76.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,109 shares of the financial services provider’s stock after buying an additional 5,694 shares during the period. Engineers Gate Manager LP’s holdings in Primerica were worth $3,726,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PRI. Ameritas Advisory Services LLC acquired a new stake in shares of Primerica during the second quarter worth approximately $26,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Primerica in the 2nd quarter worth approximately $29,000. SJS Investment Consulting Inc. boosted its holdings in shares of Primerica by 176.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 74 shares in the last quarter. Root Financial Partners LLC grew its position in Primerica by 52.6% during the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 73 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Insider Activity at Primerica

In related news, Director Amber Cottle sold 279 shares of Primerica stock in a transaction dated 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 sale, the director directly owned 3,549 shares in the company, valued at $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter Schneider sold 1,800 shares of the business’s stock in a transaction dated 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 directly 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. Insiders have sold a total of 3,579 shares of company stock worth $1,130,573 over the last 90 days. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PRI shares. Truist Financial reaffirmed a “hold” rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Morgan Stanley increased their target price on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. TD Cowen lifted their price target on Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group upped their price target on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $315.57.

Get Our Latest Stock Report on Primerica

Primerica Price Performance

PRI stock opened at $292.44 on Friday. The company has a 50 day moving average price of $305.87 and a 200 day moving average price of $281.37. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $327.28. The stock has a market capitalization of $9.00 billion, a PE ratio of 11.74 and a beta of 0.86.

Primerica (NYSE:PRIGet Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.38. The firm had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $5.46 EPS. As a group, equities analysts expect that Primerica, Inc. will post 25.2 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 21st will be issued a $1.20 dividend. The ex-dividend date is Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio (DPR) is currently 19.28%.

Primerica Company Profile

(Free Report)

Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.

Primerica’s principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.

The company was founded in 1977 as A.L.

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