Charles Schwab Investment Management Inc. Sells 2,367 Shares of Primerica, Inc. (NYSE:PRI)

Charles Schwab Investment Management Inc. trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 332,520 shares of the financial services provider’s stock after selling 2,367 shares during the period. Charles Schwab Investment Management Inc. owned about 0.98% of Primerica worth $88,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. ORG Partners LLC bought a new stake in Primerica during the 2nd quarter worth 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. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the third quarter worth $31,000. UMB Bank n.a. raised its holdings in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the period. Finally, Blue Trust Inc. lifted its position in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Down 0.1 %

NYSE PRI opened at $304.55 on Thursday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a 50 day moving average of $281.05 and a 200-day moving average of $255.94. The company has a market cap of $10.16 billion, a PE ratio of 23.27 and a beta of 1.08.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.28 earnings per share. As a group, sell-side analysts predict that Primerica, Inc. will post 19.12 EPS for the current fiscal year.

Primerica announced that its board has initiated a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica 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 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 disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the topic of several recent research reports. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler started coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Morgan Stanley raised their price target 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. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and a consensus price target of $293.50.

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.