Primerica, Inc. (NYSE:PRI) Shares Acquired by Trust Point Inc.

Trust Point Inc. lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 25.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,923 shares of the financial services provider’s stock after acquiring an additional 386 shares during the period. Trust Point Inc.’s holdings in Primerica were worth $522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sylvest Advisors LLC acquired a new stake in shares of Primerica during the 4th quarter worth about $543,000. Ausbil Investment Management Ltd increased its position in Primerica by 20.9% during the fourth quarter. Ausbil Investment Management Ltd now owns 3,030 shares of the financial services provider’s stock worth $837,000 after buying an additional 523 shares during the period. Ibex Wealth Advisors acquired a new position in Primerica during the fourth quarter worth approximately $305,000. R Squared Ltd acquired a new position in Primerica during the fourth quarter worth approximately $445,000. Finally, KBC Group NV increased its position in Primerica by 51.9% during the fourth quarter. KBC Group NV now owns 1,329 shares of the financial services provider’s stock worth $361,000 after buying an additional 454 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was 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 of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

Primerica Trading Up 1.6 %

Primerica stock opened at $295.89 on Thursday. The firm has a market capitalization of $9.87 billion, a P/E ratio of 22.60 and a beta of 1.11. The stock has a fifty day moving average price of $283.83 and a 200 day moving average price of $273.86. 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 results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the business earned $4.28 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Primerica, Inc. will post 19.79 EPS for the current year.

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

Analysts Set New Price Targets

Several research analysts have commented on PRI shares. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $304.14.

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.