OneDigital Investment Advisors LLC Raises Position in Primerica, Inc. (NYSE:PRI)

OneDigital Investment Advisors LLC lifted its stake in Primerica, Inc. (NYSE:PRI) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,430 shares of the financial services provider’s stock after purchasing an additional 86 shares during the period. OneDigital Investment Advisors LLC’s holdings in Primerica were worth $1,440,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MQS Management LLC purchased a new stake in Primerica in the third quarter worth about $417,000. Aptus Capital Advisors LLC grew its stake in shares of Primerica by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 29,345 shares of the financial services provider’s stock valued at $7,781,000 after acquiring an additional 3,950 shares during the period. Aigen Investment Management LP increased its holdings in Primerica by 148.1% in the 3rd quarter. Aigen Investment Management LP now owns 2,811 shares of the financial services provider’s stock worth $745,000 after acquiring an additional 1,678 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Primerica during the 3rd quarter worth approximately $228,000. Finally, Entropy Technologies LP purchased a new position in Primerica during the third quarter valued at approximately $716,000. 90.88% of the stock is owned by institutional investors.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now directly 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 legal filing with the SEC, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly 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. In the last three months, insiders have sold 6,500 shares of company stock worth $1,803,175. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Primerica Trading Up 0.6 %

Shares of Primerica stock opened at $298.61 on Monday. The firm has a market cap of $9.96 billion, a PE ratio of 22.81 and a beta of 1.08. The stock has a 50 day moving average of $273.65 and a 200 day moving average of $251.41. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $304.84.

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

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

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date 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%.

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.