GSA Capital Partners LLP Takes $228,000 Position in Primerica, Inc. (NYSE:PRI)

GSA Capital Partners LLP bought a new position in shares of Primerica, Inc. (NYSE:PRI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 860 shares of the financial services provider’s stock, valued at approximately $228,000.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP bought a new stake in Primerica in the 3rd quarter worth approximately $716,000. Versor Investments LP bought a new position in shares of Primerica during the 3rd quarter valued at $1,022,000. Los Angeles Capital Management LLC raised its position in Primerica by 8.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock worth $28,742,000 after purchasing an additional 8,641 shares during the period. Meritage Portfolio Management lifted its stake in Primerica by 104.9% in the third quarter. Meritage Portfolio Management now owns 2,887 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 1,478 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Primerica by 106.6% in the third quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the financial services provider’s stock worth $1,241,000 after purchasing an additional 2,415 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 1.6 %

Primerica stock opened at $301.73 on Monday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $304.84. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 23.05 and a beta of 1.08. The business’s fifty day simple moving average is $278.19 and its two-hundred day simple moving average is $254.19.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same period last year, the business earned $4.28 EPS. Primerica’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Primerica, Inc. will post 19.12 EPS for the current year.

Primerica declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Primerica Announces Dividend

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 paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the 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 directly owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 11.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday. Finally, TD Cowen began coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $288.33.

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.