State of Alaska Department of Revenue Sells 3,000 Shares of Primerica, Inc. (NYSE:PRI)

State of Alaska Department of Revenue reduced its stake in Primerica, Inc. (NYSE:PRIGet Rating) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,787 shares of the financial services provider’s stock after selling 3,000 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of Primerica worth $3,325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Brave Warrior Advisors LLC increased its holdings in Primerica by 1.5% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,929,120 shares of the financial services provider’s stock valued at $295,676,000 after acquiring an additional 27,591 shares during the last quarter. State Street Corp grew its stake in shares of Primerica by 5.7% in the 1st quarter. State Street Corp now owns 1,106,268 shares of the financial services provider’s stock worth $151,360,000 after buying an additional 59,671 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Primerica by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 683,815 shares of the financial services provider’s stock worth $104,808,000 after buying an additional 55,776 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Primerica by 3.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 339,011 shares of the financial services provider’s stock worth $46,384,000 after purchasing an additional 12,474 shares during the period. Finally, Brown Advisory Inc. boosted its stake in shares of Primerica by 4.8% during the 1st quarter. Brown Advisory Inc. now owns 277,888 shares of the financial services provider’s stock worth $38,170,000 after purchasing an additional 12,812 shares during the period. 91.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRI has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Primerica from $132.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. Truist Financial boosted their price objective on shares of Primerica from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Four investment 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 an average price target of $161.00.

Primerica Stock Up 0.7 %

NYSE PRI opened at $131.15 on Thursday. The firm has a market cap of $4.91 billion, a PE ratio of 15.36 and a beta of 1.27. The company has a 50 day moving average price of $128.00 and a 200 day moving average price of $126.99. Primerica, Inc. has a 52 week low of $110.22 and a 52 week high of $179.51.

Primerica (NYSE:PRIGet Rating) last posted its quarterly earnings results on Monday, August 8th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.18). Primerica had a return on equity of 21.81% and a net margin of 12.12%. The company had revenue of $668.68 million during the quarter, compared to analysts’ expectations of $707.24 million. During the same period in the prior year, the business posted $3.25 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Primerica, Inc. will post 11.28 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 22nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 19th. This represents a $2.20 dividend on an annualized basis and a yield of 1.68%. Primerica’s dividend payout ratio is currently 25.76%.

Primerica declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 11th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Alison S. Rand sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $127.40, for a total value of $191,100.00. Following the completion of the transaction, the chief financial officer now owns 12,433 shares of the company’s stock, valued at approximately $1,583,964.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Alison S. Rand sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $127.40, for a total value of $191,100.00. Following the completion of the transaction, the chief financial officer now owns 12,433 shares of the company’s stock, valued at approximately $1,583,964.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 4,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $133.93, for a total value of $535,720.00. Following the completion of the transaction, the chief executive officer now directly owns 58,215 shares of the company’s stock, valued at approximately $7,796,734.95. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

About Primerica

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Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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