US Bancorp DE Has $182,000 Stock Holdings in Primerica, Inc. (NYSE:PRI)

US Bancorp DE lowered its holdings in shares of Primerica, Inc. (NYSE:PRI) by 84.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 686 shares of the financial services provider’s stock after selling 3,668 shares during the period. US Bancorp DE’s holdings in Primerica were worth $182,000 as of its most recent filing with the SEC.

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

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. This represents a 12.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 $3,846,081.35. This trade represents a 11.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $1,803,175 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRI. Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Cowen assumed coverage on Primerica in a research report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price for the company. Jefferies Financial Group boosted their price target on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley lifted their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $288.33.

Primerica Price Performance

Primerica stock opened at $296.82 on Friday. The stock’s 50 day moving average is $272.02 and its 200 day moving average is $250.23. Primerica, Inc. has a one year low of $184.76 and a one year high of $304.84. The firm has a market cap of $9.90 billion, a P/E ratio of 22.68 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.28 EPS. Equities analysts anticipate that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

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

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio is 27.50%.

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.