Primerica, Inc. (NYSE:PRI) Shares Acquired by Oak Thistle LLC

Oak Thistle LLC increased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 64.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,936 shares of the financial services provider’s stock after purchasing an additional 1,943 shares during the period. Oak Thistle LLC’s holdings in Primerica were worth $1,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares during the period. Barclays PLC lifted its position in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 10,635 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Primerica in the 3rd quarter valued at approximately $3,710,000. BNP Paribas Financial Markets increased its holdings in shares of Primerica by 320.6% in the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after purchasing an additional 4,383 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Primerica during the third quarter worth approximately $646,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Tuesday. 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 report on Friday, November 8th. Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, TD Cowen boosted their target price 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $303.00.

Primerica Stock Performance

PRI opened at $282.06 on Wednesday. The company has a market cap of $9.41 billion, a price-to-earnings ratio of 21.55 and a beta of 1.11. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The business’s fifty day moving average is $286.23 and its two-hundred day moving average is $268.58.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 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 business had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same period in the previous year, the firm earned $4.28 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts predict that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica announced that its board has approved a share repurchase program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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 given a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. Primerica’s dividend payout ratio is presently 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.