Janney Montgomery Scott LLC Acquires 292 Shares of Primerica, Inc. (NYSE:PRI)

Janney Montgomery Scott LLC grew its stake in shares of Primerica, Inc. (NYSE:PRI) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,243 shares of the financial services provider’s stock after buying an additional 292 shares during the period. Janney Montgomery Scott LLC’s holdings in Primerica were worth $2,716,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PRI. ORG Partners LLC purchased a new stake in Primerica during the second quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. boosted its position in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the period. Blue Trust Inc. raised its holdings in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Primerica during the 2nd quarter worth approximately $71,000. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PRI shares. Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Jefferies Financial Group increased their price target on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $288.33.

Primerica Stock Up 1.0 %

NYSE:PRI opened at $300.62 on Tuesday. The stock’s fifty day simple moving average is $269.64 and its 200-day simple moving average is $248.67. The firm has a market capitalization of $10.17 billion, a P/E ratio of 22.97 and a beta of 1.08. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $304.84.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.28 EPS. As a group, equities research analysts expect that Primerica, Inc. will post 18.49 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.20%. Primerica’s dividend payout ratio is presently 27.50%.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’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 of the company’s stock, valued at $2,678,727.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $3,846,081.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 of the company’s stock, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

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.