Jones Financial Companies Lllp Has $266,000 Position in Primerica, Inc. (NYSE:PRI)

Jones Financial Companies Lllp raised its stake in shares of Primerica, Inc. (NYSE:PRI) by 163.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 981 shares of the financial services provider’s stock after buying an additional 609 shares during the period. Jones Financial Companies Lllp’s holdings in Primerica were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRI. Assetmark Inc. lifted its position in shares of Primerica by 11.8% in the third quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider’s stock worth $387,000 after buying an additional 154 shares during the last quarter. Atria Investments Inc lifted its holdings in Primerica by 8.0% in the 3rd quarter. Atria Investments Inc now owns 8,950 shares of the financial services provider’s stock worth $2,373,000 after purchasing an additional 662 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in Primerica in the 3rd quarter worth approximately $221,000. Crossmark Global Holdings Inc. lifted its holdings in Primerica by 106.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the financial services provider’s stock worth $1,241,000 after purchasing an additional 2,415 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Primerica in the 3rd quarter worth approximately $716,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Primerica Trading Down 0.1 %

NYSE:PRI opened at $277.39 on Thursday. The stock has a 50-day moving average price of $284.31 and a two-hundred day moving average price of $279.39. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 20.17 and a beta of 1.12.

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, 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%. Sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 annualized dividend and a yield of 1.50%. Primerica’s dividend payout ratio (DPR) is 30.25%.

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

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s 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 sale, the insider now directly owns 200 shares of the company’s stock, valued at $56,030. This represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 over the last three months. 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.