Primerica, Inc. (NYSE:PRI) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its holdings in Primerica, Inc. (NYSE:PRI) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,966 shares of the financial services provider’s stock after acquiring an additional 817 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Primerica were worth $2,642,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Primerica during the third quarter valued at about $31,000. ORG Partners LLC purchased a new stake in shares of Primerica in the second quarter valued at $30,000. UMB Bank n.a. increased its holdings in shares of Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. Blue Trust Inc. increased its stake in shares of Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Primerica during the 3rd quarter worth about $115,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PRI shares. 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. Morgan Stanley boosted their price target on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. TD Cowen began coverage on shares of Primerica in a research note on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective on the stock. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group upped their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Primerica has an average rating of “Hold” and an average target price of $281.67.

Insider Activity at Primerica

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction dated 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 in the company, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s 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 owns 45,322 shares in the company, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the firm’s 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 completion of the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. 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 company insiders.

Primerica Stock Performance

Shares of NYSE:PRI opened at $274.89 on Tuesday. The firm’s fifty day moving average is $267.44 and its 200-day moving average is $246.68. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $284.37. The firm has a market cap of $9.30 billion, a PE ratio of 22.01 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its quarterly earnings results 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 during 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 quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the company posted $3.99 earnings per share. Sell-side analysts forecast that Primerica, Inc. will post 18.13 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were given a $0.90 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.60 annualized dividend and a yield of 1.31%. This is a boost from Primerica’s previous quarterly dividend of $0.75. Primerica’s payout ratio is currently 28.82%.

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.