Running Oak Capital LLC Purchases 1,919 Shares of Primerica, Inc. (NYSE:PRI)

Running Oak Capital LLC increased its position in Primerica, Inc. (NYSE:PRI) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,644 shares of the financial services provider’s stock after purchasing an additional 1,919 shares during the quarter. Primerica makes up 1.9% of Running Oak Capital LLC’s holdings, making the stock its 14th largest position. Running Oak Capital LLC’s holdings in Primerica were worth $14,560,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Primerica in the third quarter valued at about $31,000. Prospera Private Wealth LLC acquired a new position in Primerica in the 3rd quarter valued at about $31,000. UMB Bank n.a. grew its stake in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the last quarter. Larson Financial Group LLC raised its holdings 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. Finally, Quarry LP lifted its position in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 302 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Wednesday. TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets initiated coverage on Primerica in a report on Thursday. They set a “market perform” rating and a $311.00 target price for the company. Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $304.14.

Primerica Trading Down 0.7 %

Shares of NYSE:PRI opened at $289.80 on Friday. The firm has a 50 day moving average of $285.15 and a 200-day moving average of $271.18. 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 $9.67 billion, a PE ratio of 22.14 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.28 earnings per share. On average, research analysts predict that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, November 21st. Primerica’s dividend payout ratio is presently 27.50%.

Primerica announced that its Board of Directors has approved 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.