Larson Financial Group LLC Boosts Stock Holdings in Primerica, Inc. (NYSE:PRI)

Larson Financial Group LLC lifted its position in Primerica, Inc. (NYSE:PRI) by 56.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149 shares of the financial services provider’s stock after acquiring an additional 54 shares during the period. Larson Financial Group LLC’s holdings in Primerica were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the third quarter worth $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica in the third quarter valued at approximately $31,000. ORG Partners LLC acquired a new stake in shares of Primerica in the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in 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 buying an additional 67 shares in the last quarter. Finally, 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 acquiring an additional 60 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Trading Down 0.3 %

NYSE:PRI opened at $303.37 on Friday. The stock has a fifty day moving average price of $282.86 and a 200 day moving average price of $256.83. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a market cap of $10.12 billion, a PE ratio of 23.18 and a beta of 1.08.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company 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 firm earned $4.28 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica announced that its Board of Directors has authorized a share buyback program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Piper Sandler assumed coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. TD Cowen increased their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley boosted their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $293.50.

Insider Buying and Selling at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 15,151 shares in the company, valued at approximately $3,846,081.35. This represents a 11.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were 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 directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

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.