Blue Trust Inc. Buys 475 Shares of Primerica, Inc. (NYSE:PRI)

Blue Trust Inc. boosted its stake in Primerica, Inc. (NYSE:PRI) by 247.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 667 shares of the financial services provider’s stock after purchasing an additional 475 shares during the quarter. Blue Trust Inc.’s holdings in Primerica were worth $177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRI. ORG Partners LLC bought a new stake in Primerica in the second quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new position in Primerica in the third quarter valued at about $31,000. UMB Bank n.a. grew its stake in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares during the period. Strategic Financial Concepts LLC acquired a new position in Primerica in the second quarter valued at about $71,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Primerica by 207.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 548 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 370 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

PRI stock opened at $275.69 on Friday. The stock has a market capitalization of $9.33 billion, a P/E ratio of 22.07 and a beta of 1.09. The business has a 50-day moving average of $265.44 and a 200-day moving average of $244.09. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $284.37.

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

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This is a boost from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 1.31%. Primerica’s dividend payout ratio is 28.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. TD Cowen assumed coverage on Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price for the company. Jefferies Financial Group boosted their target price on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Piper Sandler assumed coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price for the company. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $281.67.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now directly owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction that occurred on 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 approximately $3,846,081.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the sale, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,500 shares of company stock valued at $1,657,015. Insiders own 0.85% of the company’s stock.

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.