Janney Montgomery Scott LLC Sells 45 Shares of Primerica, Inc. (NYSE:PRI)

Janney Montgomery Scott LLC decreased its position in Primerica, Inc. (NYSE:PRI) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,198 shares of the financial services provider’s stock after selling 45 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Primerica were worth $2,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PRI. CIBC Asset Management Inc lifted its position in shares of Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after buying an additional 36 shares in the last quarter. Creative Planning increased its position in shares of Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after acquiring an additional 40 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Primerica by 0.7% during the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 43 shares during the period. Larson Financial Group LLC boosted its position in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRI. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial increased their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $304.14.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

Primerica Trading Down 0.4 %

PRI opened at $290.14 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The company has a market cap of $9.68 billion, a PE ratio of 22.16 and a beta of 1.11. The company has a 50 day moving average of $284.59 and a 200 day moving average of $272.66.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same period last year, the company earned $4.28 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts forecast that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is presently 27.50%.

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

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.