Primerica, Inc. (NYSE:PRI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in Primerica, Inc. (NYSE:PRI) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 41,093 shares of the financial services provider’s stock after selling 1,379 shares during the quarter. Retirement Systems of Alabama’s holdings in Primerica were worth $10,896,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Primerica in the 3rd quarter valued at $3,710,000. BNP Paribas Financial Markets increased its holdings in Primerica by 320.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock worth $1,525,000 after acquiring an additional 4,383 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Primerica during the third quarter worth $646,000. Finally, Quantinno Capital Management LP raised its position in Primerica by 66.9% during the third quarter. Quantinno Capital Management LP now owns 5,150 shares of the financial services provider’s stock worth $1,366,000 after acquiring an additional 2,065 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PRI shares. Truist Financial lifted their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Piper Sandler initiated coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Morgan Stanley raised their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $293.50.

Primerica Trading Down 0.2 %

PRI stock opened at $280.53 on Tuesday. The firm has a 50-day moving average of $287.74 and a two-hundred day moving average of $261.78. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 21.43 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.28 earnings per share. As a group, equities analysts forecast that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica announced that its board has approved a share buyback plan on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. Primerica’s payout ratio is 27.50%.

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.