Primerica, Inc. (NYSE:PRI) Shares Acquired by Callan Family Office LLC

Callan Family Office LLC lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 20.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,344 shares of the financial services provider’s stock after acquiring an additional 224 shares during the period. Callan Family Office LLC’s holdings in Primerica were worth $356,000 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. ORG Partners LLC acquired a new position in Primerica during the second quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. increased its position in Primerica by 493.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock worth $45,000 after buying an additional 148 shares during the period. Blue Trust Inc. increased its position in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Primerica in the second quarter valued at approximately $71,000. Finally, O Dell Group LLC acquired a new position in shares of Primerica in the fourth quarter valued at approximately $153,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

PRI has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Piper Sandler started coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Jefferies Financial Group lifted their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Truist Financial lifted their price target on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $275.20.

Primerica Stock Performance

PRI opened at $269.74 on Wednesday. The business’s fifty day moving average is $257.90 and its two-hundred day moving average is $241.33. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 16.42 and a beta of 1.09. Primerica, Inc. has a one year low of $184.76 and a one year high of $274.52.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. During the same period in the prior year, the business earned $3.99 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Primerica, Inc. will post 18.03 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a $0.90 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Wednesday, August 21st. Primerica’s dividend payout ratio is currently 21.91%.

Insider Activity

In other news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $1,657,015 over the last three months. 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.