Sanctuary Advisors LLC Acquires 171 Shares of Primerica, Inc. (NYSE:PRI)

Sanctuary Advisors LLC raised its holdings in Primerica, Inc. (NYSE:PRI) by 3.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,803 shares of the financial services provider’s stock after acquiring an additional 171 shares during the quarter. Sanctuary Advisors LLC’s holdings in Primerica were worth $1,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRI. Prospera Private Wealth LLC purchased a new stake in shares of Primerica during the third quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in Primerica in the 4th quarter valued at about $33,000. Larson Financial Group LLC boosted its position in Primerica by 56.8% in the 3rd 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 period. UMB Bank n.a. grew its stake in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 95 shares in the last quarter. Finally, Quarry LP increased its position in shares of 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 acquiring an additional 302 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. TD Cowen lifted their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Finally, Morgan Stanley boosted their price target on shares of Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $311.14.

Primerica Price Performance

PRI opened at $275.16 on Tuesday. The firm has a market capitalization of $9.18 billion, a PE ratio of 20.01 and a beta of 1.11. The business’s 50-day moving average is $281.79 and its two-hundred day moving average is $277.31. 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 results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a dividend of $1.04 per share. 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 dividend yield of 1.51%. Primerica’s dividend payout ratio is presently 30.25%.

Primerica declared that its board has initiated a stock buyback plan 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.85% of the company’s stock.

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.