EverSource Wealth Advisors LLC Purchases 71 Shares of Primerica, Inc. (NYSE:PRI)

EverSource Wealth Advisors LLC boosted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 129.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126 shares of the financial services provider’s stock after buying an additional 71 shares during the period. EverSource Wealth Advisors LLC’s holdings in Primerica were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares in the last quarter. Barclays PLC raised its stake in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 10,635 shares in the last quarter. Sylvest Advisors LLC bought a new stake in Primerica during the fourth quarter valued at approximately $543,000. Oak Thistle LLC grew its stake in Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 1,943 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after buying an additional 11,612 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the company’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. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

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

Primerica Price Performance

Shares of Primerica stock opened at $288.65 on Friday. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The business’s 50 day simple moving average is $285.57 and its two-hundred day simple moving average is $280.31. The stock has a market capitalization of $9.60 billion, a P/E ratio of 20.99 and a beta of 1.12.

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 net margin of 15.14% and a return on equity of 31.11%. Sell-side analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio is 30.25%.

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.