US Bancorp DE Sells 3,668 Shares of Primerica, Inc. (NYSE:PRI)

US Bancorp DE trimmed its position in Primerica, Inc. (NYSE:PRI) by 84.2% in the third quarter, HoldingsChannel reports. The firm owned 686 shares of the financial services provider’s stock after selling 3,668 shares during the quarter. US Bancorp DE’s holdings in Primerica were worth $182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. Creative Planning grew its holdings in shares of Primerica by 0.7% in the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after acquiring an additional 40 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the last quarter. GPS Wealth Strategies Group LLC grew its position in Primerica by 2.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $625,000 after buying an additional 62 shares during the period. SkyView Investment Advisors LLC raised its position in Primerica by 1.0% in the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 62 shares during the period. Finally, UMB Bank n.a. boosted 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 last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PRI. TD Cowen initiated coverage on shares of Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price target on the stock. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective on the stock. Truist Financial lifted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and an average target price of $288.33.

Primerica Trading Down 1.1 %

Shares of NYSE:PRI opened at $296.82 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $304.84. The stock has a market cap of $9.90 billion, a P/E ratio of 22.68 and a beta of 1.08. The company has a 50 day moving average of $272.02 and a 200 day moving average of $250.23.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.28 earnings per share. On average, equities analysts forecast that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica announced that its board has authorized a share buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated 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 sale, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. The trade was a 12.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,500 shares of company stock valued at $1,803,175. 0.85% of the stock is owned by corporate insiders.

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.