Corient Private Wealth LLC Boosts Stake in Primerica, Inc. (NYSE:PRI)

Corient Private Wealth LLC lifted its stake in Primerica, Inc. (NYSE:PRI) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,646 shares of the financial services provider’s stock after acquiring an additional 119 shares during the period. Corient Private Wealth LLC’s holdings in Primerica were worth $2,347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its holdings in Primerica by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,554 shares of the financial services provider’s stock worth $965,000 after purchasing an additional 76 shares in the last quarter. Impact Capital Partners LLC purchased a new stake in Primerica during the fourth quarter valued at approximately $1,136,000. Farther Finance Advisors LLC boosted its stake in Primerica by 341.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,769 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 1,368 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Primerica by 13.6% during the fourth quarter. HighTower Advisors LLC now owns 19,578 shares of the financial services provider’s stock worth $5,314,000 after purchasing an additional 2,348 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Price Performance

PRI stock opened at $284.99 on Monday. The firm’s fifty day simple moving average is $285.85 and its 200-day simple moving average is $280.74. The company has a market capitalization of $9.48 billion, a P/E ratio of 20.73 and a beta of 1.12. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is currently 30.25%.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, 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. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen boosted 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. Morgan Stanley cut their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and an average target price of $309.86.

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.