Swiss National Bank Has $17.82 Million Holdings in Primerica, Inc. (NYSE:PRI)

Swiss National Bank trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 2.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,200 shares of the financial services provider’s stock after selling 1,400 shares during the period. Swiss National Bank owned approximately 0.20% of Primerica worth $17,818,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in Primerica by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 36 shares in the last quarter. Creative Planning raised its holdings in shares of Primerica by 0.7% during the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after buying an additional 40 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in Primerica by 2.4% in the second quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $625,000 after buying an additional 62 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its position in Primerica by 1.0% in the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 62 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Trading Up 1.3 %

Shares of NYSE PRI opened at $297.45 on Friday. The firm’s 50-day moving average price is $276.36 and its 200-day moving average price is $253.09. The firm has a market capitalization of $9.93 billion, a P/E ratio of 22.72 and a beta of 1.08. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $304.84.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the company posted $4.28 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Primerica, Inc. will post 19.12 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s payout ratio is presently 27.50%.

Primerica announced that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

PRI has been the topic of several research reports. TD Cowen initiated coverage on shares of Primerica in a report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price target on the stock. Morgan Stanley upped their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler assumed coverage on Primerica in a research report on Friday, August 30th. They issued 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $288.33.

Insider Buying and Selling

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. The trade was a 11.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $1,803,175 in the last quarter. Insiders own 0.85% of the company’s stock.

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.