Primerica, Inc. (NYSE:PRI) Shares Sold by Blue Trust Inc.

Blue Trust Inc. decreased its position in shares of Primerica, Inc. (NYSE:PRI) by 35.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 431 shares of the financial services provider’s stock after selling 236 shares during the quarter. Blue Trust Inc.’s holdings in Primerica were worth $117,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc boosted its position in shares of Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 36 shares during the period. Creative Planning lifted its stake in Primerica by 0.7% in the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $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 third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after acquiring an additional 43 shares during the period. Larson Financial Group LLC grew its position in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Primerica by 3.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,294 shares of the financial services provider’s stock valued at $611,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.85% of the stock is owned by corporate insiders.

Primerica Stock Down 2.3 %

Shares of Primerica stock opened at $273.38 on Friday. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 19.88 and a beta of 1.11. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The company’s 50-day simple moving average is $281.95 and its 200-day simple moving average is $276.58.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

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

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.52%. Primerica’s dividend payout ratio is presently 26.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRI shares. Truist Financial increased their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Morgan Stanley boosted their price target on Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler decreased their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Primerica has an average rating of “Hold” and a consensus target price of $311.14.

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.