Stratos Wealth Partners LTD. Cuts Stock Position in Primerica, Inc. (NYSE:PRI)

Stratos Wealth Partners LTD. cut its holdings in Primerica, Inc. (NYSE:PRI) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,240 shares of the financial services provider’s stock after selling 69 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Primerica were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRI. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter valued at $31,000. Prospera Private Wealth LLC purchased a new position in Primerica during the third quarter worth $31,000. Larson Financial Group LLC boosted its stake in 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 buying an additional 54 shares during the period. UMB Bank n.a. boosted its stake in Primerica by 65.5% during the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after buying an additional 95 shares during the period. Finally, Quarry LP boosted its stake in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after buying an additional 302 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. TD Cowen lifted their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their price objective 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 initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Finally, StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. 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 currently has a consensus rating of “Hold” and an average price target of $304.14.

Primerica Price Performance

PRI stock opened at $278.65 on Thursday. The business has a 50-day moving average price of $283.06 and a 200 day moving average price of $275.43. The company has a market capitalization of $9.30 billion, a P/E ratio of 21.29 and a beta of 1.11. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, analysts anticipate that Primerica, Inc. will post 19.79 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. Shareholders of record on Friday, February 21st will be issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.49%. Primerica’s payout ratio is currently 27.50%.

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