nVerses Capital LLC Sells 1,000 Shares of Primerica, Inc. (NYSE:PRI)

nVerses Capital LLC lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 83.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200 shares of the financial services provider’s stock after selling 1,000 shares during the period. nVerses Capital LLC’s holdings in Primerica were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PRI. Van ECK Associates Corp increased its position in Primerica by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock worth $3,164,000 after buying an additional 3,345 shares during the period. Blair William & Co. IL boosted its holdings in Primerica by 24.5% in the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after purchasing an additional 2,393 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Primerica by 456.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 7,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Primerica by 136.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock worth $1,599,000 after purchasing an additional 3,649 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Primerica in the first quarter valued at approximately $979,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Jefferies Financial Group raised their price objective on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Piper Sandler began coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective on the stock. Truist Financial boosted their target price on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $281.67.

Primerica Trading Down 0.8 %

Shares of Primerica stock opened at $276.94 on Tuesday. The firm’s 50 day moving average is $263.73 and its 200 day moving average is $243.19. The firm has a market capitalization of $9.53 billion, a PE ratio of 16.86 and a beta of 1.09. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $284.37.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million for the quarter, compared to analysts’ expectations of $748.88 million. During the same quarter in the previous year, the firm posted $3.99 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, research analysts anticipate that Primerica, Inc. will post 18.13 earnings per share for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were given a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 1.30%. Primerica’s dividend payout ratio (DPR) is currently 21.91%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares in the company, valued at approximately $3,846,081.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is currently owned by corporate insiders.

About Primerica

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.