Ballentine Partners LLC Acquires New Holdings in Primerica, Inc. (NYSE:PRI)

Ballentine Partners LLC acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 811 shares of the financial services provider’s stock, valued at approximately $215,000.

Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in Primerica during the second quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new position in shares of Primerica in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% in the third 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. Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Primerica in the second quarter valued at approximately $71,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Down 0.2 %

Shares of PRI opened at $277.37 on Wednesday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $284.37. The firm has a fifty day simple moving average of $266.14 and a 200 day simple moving average of $244.87. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 22.21 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. During the same period in the prior year, the firm posted $3.99 earnings per share. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, research analysts predict that Primerica, Inc. will post 18.13 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, August 21st. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is 28.82%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target for the company. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, October 4th. TD Cowen assumed coverage on shares of Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price target for the company. Finally, Jefferies Financial Group upped their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $281.67.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares of the company’s stock, valued at $11,446,071.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,657,015 in the last quarter. Company insiders own 0.61% of the company’s stock.

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.