1,640 Shares in Primerica, Inc. (NYSE:PRI) Bought by R Squared Ltd

R Squared Ltd bought a new stake in Primerica, Inc. (NYSE:PRI) during the fourth quarter, HoldingsChannel.com reports. The firm bought 1,640 shares of the financial services provider’s stock, valued at approximately $445,000.

Several other institutional investors have also recently bought and sold shares of PRI. CIBC Asset Management Inc grew its holdings in shares of Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 36 shares during the last quarter. Creative Planning grew its stake in shares of Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after buying an additional 40 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Primerica by 0.7% during the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after buying an additional 43 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Primerica by 56.8% in the 3rd 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. Finally, UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% during the 3rd 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. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Down 0.0 %

PRI opened at $289.92 on Wednesday. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The company has a fifty day moving average of $284.93 and a 200-day moving average of $272.06. The stock has a market cap of $9.67 billion, a PE ratio of 22.15 and a beta of 1.11.

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 firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $4.28 EPS. Sell-side analysts anticipate that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % 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 link. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. TD Cowen upped their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Primerica has a consensus rating of “Hold” and an average price target of $304.14.

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.