Whittier Trust Co. of Nevada Inc. Invests $115,000 in Primerica, Inc. (NYSE:PRI)

Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 435 shares of the financial services provider’s stock, valued at approximately $115,000.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of Primerica by 117.1% during the fourth quarter. Wellington Management Group LLP now owns 18,576 shares of the financial services provider’s stock valued at $3,822,000 after buying an additional 10,020 shares during the last quarter. Ballentine Partners LLC purchased a new position in Primerica in the 1st quarter worth approximately $207,000. Wealth Enhancement Advisory Services LLC lifted its position in Primerica by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,250 shares of the financial services provider’s stock valued at $2,087,000 after purchasing an additional 221 shares during the last quarter. Ausbil Investment Management Ltd boosted its stake in shares of Primerica by 4.6% during the first quarter. Ausbil Investment Management Ltd now owns 3,149 shares of the financial services provider’s stock valued at $794,000 after purchasing an additional 139 shares during the period. Finally, State of Michigan Retirement System grew its holdings in shares of Primerica by 2.4% in the first quarter. State of Michigan Retirement System now owns 8,619 shares of the financial services provider’s stock worth $2,180,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 0.6 %

Shares of PRI stock opened at $277.11 on Thursday. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 22.19 and a beta of 1.09. The business’s fifty day moving average is $264.66 and its 200 day moving average is $243.65. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $284.37.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. During the same period last year, the business earned $3.99 EPS. Primerica’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts expect that Primerica, Inc. will post 18.13 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a $0.90 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, August 21st. Primerica’s payout ratio is currently 28.82%.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $1,657,015 in the last 90 days. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PRI shares. Morgan Stanley increased their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their target price on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. TD Cowen started coverage on Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price objective for the company. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, Truist Financial lifted their price target on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Primerica presently has an average rating of “Hold” and a consensus price target of $281.67.

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.