DekaBank Deutsche Girozentrale Raises Stock Holdings in Primerica, Inc. (NYSE:PRI)

DekaBank Deutsche Girozentrale grew its holdings in Primerica, Inc. (NYSE:PRI) by 78.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,960 shares of the financial services provider’s stock after buying an additional 862 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Primerica were worth $512,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ballentine Partners LLC purchased a new stake in Primerica in the 3rd quarter worth $215,000. Ausbil Investment Management Ltd acquired a new stake in shares of Primerica in the third quarter valued at about $665,000. Impact Partnership Wealth LLC purchased a new stake in shares of Primerica during the third quarter worth about $211,000. International Assets Investment Management LLC raised its position in shares of Primerica by 359,742.9% during the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock worth $6,679,000 after purchasing an additional 25,182 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in Primerica in the 3rd quarter valued at about $929,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling 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 shares were 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 owns 45,322 shares of the company’s stock, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $1,657,015 over the last three months. Insiders own 0.85% of the company’s stock.

Primerica Price Performance

Shares of NYSE PRI opened at $274.44 on Friday. The company has a market capitalization of $9.28 billion, a P/E ratio of 21.97 and a beta of 1.08. The company has a 50 day simple moving average of $267.14 and a 200-day simple moving average of $245.98. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $284.37.

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

Primerica Increases Dividend

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

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.