Venturi Wealth Management LLC Buys 115 Shares of Primerica, Inc. (NYSE:PRI)

Venturi Wealth Management LLC increased its stake in shares of Primerica, Inc. (NYSE:PRI) by 116.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214 shares of the financial services provider’s stock after buying an additional 115 shares during the quarter. Venturi Wealth Management LLC’s holdings in Primerica were worth $58,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PRI. Creative Planning raised its position in Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after purchasing an additional 40 shares during the last quarter. International Assets Investment Management LLC raised its position in Primerica by 359,742.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after purchasing an additional 25,182 shares during the last quarter. Ballentine Partners LLC bought a new position in Primerica in the 3rd quarter valued at $215,000. DekaBank Deutsche Girozentrale raised its position in Primerica by 78.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,960 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 862 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Primerica by 0.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,613 shares of the financial services provider’s stock valued at $8,381,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by insiders.

Primerica Stock Performance

NYSE PRI opened at $275.16 on Tuesday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a fifty day moving average of $281.79 and a 200-day moving average of $277.31. The stock has a market capitalization of $9.18 billion, a P/E ratio of 20.01 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Equities research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica declared that its board has initiated a share repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.51%. Primerica’s payout ratio is 30.25%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PRI. Morgan Stanley lifted their price objective on Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Piper Sandler cut their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Primerica has a consensus rating of “Hold” and an average price target of $311.14.

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.