Harbor Capital Advisors Inc. Grows Stake in Primerica, Inc. (NYSE:PRI)

Harbor Capital Advisors Inc. boosted its stake in Primerica, Inc. (NYSE:PRI) by 456.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,149 shares of the financial services provider’s stock after buying an additional 7,506 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Primerica were worth $2,164,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC boosted its stake in shares of Primerica by 1.4% in the fourth quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 55 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Primerica by 0.3% in the first quarter. Retirement Systems of Alabama now owns 43,994 shares of the financial services provider’s stock valued at $11,129,000 after buying an additional 116 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Primerica in the fourth quarter valued at about $26,000. Atria Wealth Solutions Inc. lifted its stake in shares of Primerica by 10.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,409 shares of the financial services provider’s stock worth $290,000 after buying an additional 130 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Primerica by 5.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,673 shares of the financial services provider’s stock worth $550,000 after acquiring an additional 138 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Up 1.0 %

Shares of PRI traded up $2.43 during trading on Wednesday, reaching $243.47. 58,869 shares of the company traded hands, compared to its average volume of 165,685. The stock has a 50-day simple moving average of $237.27 and a 200-day simple moving average of $235.79. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $256.56. The stock has a market cap of $8.38 billion, a PE ratio of 14.67 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The firm had revenue of $742.83 million during the quarter, compared to analyst estimates of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.49 earnings per share. On average, equities research analysts predict that Primerica, Inc. will post 17.73 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRI shares. Morgan Stanley lowered their target price on Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group raised their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and an average target price of $260.50.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the sale, the president now directly owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the sale, the chief executive officer now owns 48,322 shares in the company, valued at $10,764,208.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the sale, the president now directly owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Primerica Profile

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.