Primerica, Inc. (NYSE:PRI) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC increased its position in shares of Primerica, Inc. (NYSE:PRI) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 899 shares of the financial services provider’s stock after purchasing an additional 88 shares during the period. Ballentine Partners LLC’s holdings in Primerica were worth $244,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares during the last quarter. Millennium Management LLC boosted its holdings in Primerica by 30,726.7% in the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Raymond James & Associates increased its stake in Primerica by 4.6% in the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock valued at $32,176,000 after purchasing an additional 5,323 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Primerica by 8.7% during the third quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock worth $28,742,000 after purchasing an additional 8,641 shares in the last quarter. Finally, Prospector Partners LLC lifted its position in shares of Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock worth $20,431,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 0.7 %

NYSE:PRI opened at $289.80 on Friday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock’s 50 day simple moving average is $285.15 and its 200-day simple moving average is $271.44. The firm has a market cap of $9.67 billion, a P/E ratio of 22.14 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the previous year, the company posted $4.28 EPS. Primerica’s revenue was up 11.0% compared to the same quarter last year. Research analysts forecast that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica declared that its Board of Directors has initiated a share buyback plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.24%. Primerica’s payout ratio is currently 27.50%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods dropped their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. BMO Capital Markets initiated coverage on Primerica in a research note on Thursday. They issued a “market perform” rating and a $311.00 price objective for the company. Finally, Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and an average target price of $304.14.

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.