Primerica, Inc. (NYSE:PRI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,312 shares of the financial services provider’s stock after selling 13,041 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Primerica worth $27,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Primerica during the third quarter worth $31,000. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the 3rd quarter worth about $31,000. UMB Bank n.a. raised its holdings 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 buying an additional 67 shares during the period. Larson Financial Group LLC lifted 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 valued at $39,000 after buying an additional 54 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Primerica in the second quarter valued at about $71,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’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 sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % 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. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRI. TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial boosted their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Six 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.com, Primerica presently has an average rating of “Hold” and a consensus price target of $296.33.

Primerica Price Performance

Shares of NYSE PRI opened at $275.98 on Wednesday. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 21.08 and a beta of 1.11. The stock’s 50-day moving average is $286.22 and its two-hundred day moving average is $266.87. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $745.25 million. During the same period in the prior year, the firm earned $4.28 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica announced that its Board of Directors has approved a stock buyback 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 purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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 paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.30%. Primerica’s payout ratio is currently 27.50%.

Primerica 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.