Primerica, Inc. (NYSE:PRI) Stake Lowered by Fmr LLC

Fmr LLC trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,029,015 shares of the financial services provider’s stock after selling 55,267 shares during the period. Fmr LLC owned about 0.09% of Primerica worth $803,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PRI. V Square Quantitative Management LLC acquired a new position in Primerica in the 3rd quarter worth about $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica in the 3rd quarter valued at approximately $31,000. ORG Partners LLC acquired a new position in Primerica in the second quarter worth approximately $30,000. UMB Bank n.a. raised its position in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PRI shares. Morgan Stanley increased their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen upped their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Piper Sandler initiated coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $293.50.

Primerica Price Performance

PRI stock opened at $304.55 on Thursday. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 23.27 and a beta of 1.08. The company has a 50-day moving average of $281.05 and a two-hundred day moving average of $255.94. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.28 EPS. Equities analysts expect that Primerica, Inc. will post 19.12 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.90 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.18%. Primerica’s payout ratio is 27.50%.

Primerica announced that its Board of Directors has authorized a stock buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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. This trade represents a 11.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently 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.