Primerica, Inc. (NYSE:PRI) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC grew its position in Primerica, Inc. (NYSE:PRI) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,047 shares of the financial services provider’s stock after purchasing an additional 268 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Primerica were worth $556,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the third quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica in the fourth quarter valued at about $33,000. Larson Financial Group LLC increased its holdings in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Trading Up 0.9 %

Shares of PRI stock opened at $278.28 on Wednesday. The company has a market capitalization of $9.25 billion, a P/E ratio of 20.24 and a beta of 1.12. The business’s 50 day moving average is $284.19 and its two-hundred day moving average is $279.40. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

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

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is 30.25%.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRI. Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. BMO Capital Markets began coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. TD Cowen raised their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $309.86.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 over the last quarter. 0.85% 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.