Primerica, Inc. (NYSE:PRI) Shares Purchased by Jane Street Group LLC

Jane Street Group LLC grew its holdings in shares of Primerica, Inc. (NYSE:PRI) by 6.3% in the 3rd quarter, Holdings Channel reports. The fund owned 30,806 shares of the financial services provider’s stock after acquiring an additional 1,830 shares during the period. Jane Street Group LLC’s holdings in Primerica were worth $8,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Burgundy Asset Management Ltd. raised its holdings in Primerica by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock valued at $292,688,000 after acquiring an additional 17,095 shares in the last quarter. Millennium Management LLC increased its position in shares of Primerica by 30,726.7% in the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Primerica by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock valued at $150,880,000 after purchasing an additional 21,836 shares in the last quarter. Raymond James & Associates lifted its position in shares of Primerica by 4.6% during the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after purchasing an additional 5,323 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Primerica by 8.7% in the third quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock worth $28,742,000 after purchasing an additional 8,641 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of research analyst reports. Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler initiated coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Finally, Truist Financial boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $293.50.

Primerica Stock Performance

Shares of PRI opened at $281.16 on Friday. The firm has a fifty day moving average of $287.60 and a 200-day moving average of $260.86. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 21.48 and a beta of 1.09. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $745.25 million. During the same period in the previous year, the business posted $4.28 EPS. Primerica’s revenue was up 11.0% on a year-over-year basis. Analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

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

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

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.85% of the company’s stock.

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.