Primerica, Inc. (NYSE:PRI) Shares Sold by MML Investors Services LLC

MML Investors Services LLC reduced its stake in shares of Primerica, Inc. (NYSE:PRI) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 882 shares of the financial services provider’s stock after selling 40 shares during the period. MML Investors Services LLC’s holdings in Primerica were worth $234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CIBC Asset Management Inc lifted its stake in Primerica by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 36 shares during the last quarter. Creative Planning lifted its position in shares of Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after buying an additional 40 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after buying an additional 43 shares during the period. Larson Financial Group LLC grew its position in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in Primerica by 1.0% during the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 62 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

NYSE:PRI opened at $272.51 on Friday. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 20.82 and a beta of 1.09. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The business has a fifty day moving average of $287.16 and a 200-day moving average of $264.12.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the prior year, the firm posted $4.28 EPS. Primerica’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.32%. Primerica’s payout ratio is 27.50%.

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $296.33.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% 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.