Marks Group Wealth Management Inc Has $9.06 Million Stock Position in Primerica, Inc. (NYSE:PRI)

Marks Group Wealth Management Inc lessened its stake in shares of Primerica, Inc. (NYSE:PRI) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,360 shares of the financial services provider’s stock after selling 1,656 shares during the period. Marks Group Wealth Management Inc’s holdings in Primerica were worth $9,055,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PRI. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter worth approximately $31,000. Prospera Private Wealth LLC acquired a new position in Primerica in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new position in Primerica in the 4th quarter worth approximately $33,000. UMB Bank n.a. grew its position in Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Price Performance

Shares of Primerica stock opened at $290.74 on Wednesday. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 22.21 and a beta of 1.11. The stock has a 50-day simple moving average of $283.22 and a 200-day simple moving average of $275.15. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. As a group, equities research analysts predict that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica announced that its Board of Directors has initiated a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

PRI has been the subject of several recent analyst reports. BMO Capital Markets began coverage on Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Primerica currently has a consensus rating of “Hold” and an average price target of $304.14.

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.