Primerica, Inc. (NYSE:PRI) Shares Sold by Fmr LLC

Fmr LLC lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,029,015 shares of the financial services provider’s stock after selling 55,267 shares during the period. Fmr LLC owned 9.08% of Primerica worth $803,143,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PRI. ORG Partners LLC bought a new position in Primerica in the 2nd quarter worth about $30,000. V Square Quantitative Management LLC acquired a new position in shares of Primerica during the third quarter worth approximately $31,000. Prospera Private Wealth LLC bought a new position in Primerica in the 3rd quarter worth approximately $31,000. UMB Bank n.a. grew its holdings in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Truist Financial increased 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. Morgan Stanley upped their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Piper Sandler assumed coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus target price of $293.50.

Insider Activity at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’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 transaction of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Primerica Price Performance

Shares of PRI opened at $304.55 on Thursday. The firm’s 50 day moving average is $281.05 and its 200-day moving average is $255.94. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock has a market capitalization of $10.16 billion, a P/E ratio of 23.27 and a beta of 1.08.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the business posted $4.28 earnings per share. The firm’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 EPS for the current fiscal year.

Primerica Announces Dividend

The business 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 dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio is 27.50%.

Primerica announced that its board has initiated a share buyback 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 buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.