Primerica, Inc. (NYSE:PRI) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Primerica, Inc. (NYSE:PRI) by 16.5% in the 4th quarter, Holdings Channel reports. The firm owned 46,303 shares of the financial services provider’s stock after buying an additional 6,561 shares during the quarter. Victory Capital Management Inc.’s holdings in Primerica were worth $12,568,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its position in shares of Primerica by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after buying an additional 36 shares during the period. Kingsview Wealth Management LLC lifted its position in Primerica by 0.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 43 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. Everhart Financial Group Inc. grew its position in Primerica by 2.5% in the fourth quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 65 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Primerica by 27.3% during the fourth quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 71 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

NYSE:PRI opened at $277.39 on Thursday. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 20.17 and a beta of 1.12. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The stock has a 50-day simple moving average of $284.31 and a 200 day simple moving average of $279.39.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its board has approved a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.04 per share. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.50%. Primerica’s payout ratio is presently 30.25%.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRI shares. Morgan Stanley decreased their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods increased their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $309.86.

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.