UMB Bank n.a. Purchases 67 Shares of Primerica, Inc. (NYSE:PRI)

UMB Bank n.a. boosted its stake in Primerica, Inc. (NYSE:PRI) by 85.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145 shares of the financial services provider’s stock after purchasing an additional 67 shares during the quarter. UMB Bank n.a.’s holdings in Primerica were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after acquiring an additional 678,752 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Primerica by 66.3% during the second quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock worth $23,601,000 after acquiring an additional 39,761 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Primerica by 2,986.9% during the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock worth $7,595,000 after acquiring an additional 31,064 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Primerica during the second quarter worth about $71,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Primerica by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after buying an additional 21,836 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Down 0.2 %

Primerica stock opened at $277.05 on Tuesday. The firm has a 50-day moving average price of $260.60 and a 200-day moving average price of $242.15. 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 12-month low of $184.76 and a 12-month high of $279.89.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.99 EPS. As a group, sell-side analysts predict that Primerica, Inc. will post 18.05 earnings per share for the current fiscal year.

Primerica Increases Dividend

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

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,500 shares of company stock valued at $1,657,015. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PRI shares. Jefferies Financial Group upped their target price on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley increased their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Truist Financial increased their price objective on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, Piper Sandler initiated coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $281.67.

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.