NewEdge Wealth LLC Has $5.44 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

NewEdge Wealth LLC lessened its position in Primerica, Inc. (NYSE:PRI) by 14.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,057 shares of the financial services provider’s stock after selling 3,436 shares during the quarter. NewEdge Wealth LLC owned approximately 0.06% of Primerica worth $5,444,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after purchasing an additional 11,612 shares during the last quarter. Prospector Partners LLC increased its position in shares of Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock worth $20,431,000 after purchasing an additional 210 shares during the last quarter. Stifel Financial Corp increased its position in shares of Primerica by 0.5% during the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock worth $16,965,000 after purchasing an additional 333 shares during the last quarter. Finally, Running Oak Capital LLC increased its position in shares of Primerica by 3.7% during the 4th quarter. Running Oak Capital LLC now owns 53,644 shares of the financial services provider’s stock worth $14,560,000 after purchasing an additional 1,919 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PRI shares. BMO Capital Markets started coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Morgan Stanley lifted their target price on Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus target price of $311.14.

Primerica Price Performance

PRI opened at $284.16 on Friday. The business has a fifty day simple moving average of $282.28 and a 200 day simple moving average of $277.70. The company has a market capitalization of $9.48 billion, a PE ratio of 20.67 and a beta of 1.11. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Equities analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $1.04 dividend. The ex-dividend date is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. Primerica’s payout ratio is 30.25%.

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

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Primerica Company 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.