GSA Capital Partners LLP Takes $228,000 Position in Primerica, Inc. (NYSE:PRI)

GSA Capital Partners LLP bought a new stake in Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 860 shares of the financial services provider’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in shares of Primerica during the second quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. lifted its stake in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Primerica during the second quarter worth $71,000. Institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

PRI has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Truist Financial increased their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen began coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price target on the stock. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday. Finally, Piper Sandler began coverage on shares of Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $288.33.

Primerica Price Performance

NYSE:PRI opened at $301.73 on Monday. The company has a market cap of $10.07 billion, a P/E ratio of 23.05 and a beta of 1.08. The firm’s fifty day moving average price is $278.19 and its two-hundred day moving average price is $254.19. Primerica, Inc. has a one year low of $184.76 and a one year high of $304.84.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the prior year, the firm earned $4.28 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Primerica, Inc. will post 19.12 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica declared that its board has approved a stock repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Primerica

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of Primerica 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 transaction, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The trade was a 11.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

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.