Primerica, Inc. (NYSE:PRI) Stock Position Raised by FourThought Financial LLC

FourThought Financial LLC lifted its stake in shares of Primerica, Inc. (NYSE:PRI – Get Rating) by 36.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 487 shares of the financial services provider’s stock after acquiring an additional 129 shares during the quarter. FourThought Financial LLC’s holdings in Primerica were worth $60,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Covestor Ltd lifted its holdings in shares of Primerica by 74.7% in the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 109 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Primerica in the second quarter valued at $49,000. Quantbot Technologies LP purchased a new stake in shares of Primerica in the second quarter valued at $69,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Primerica in the third quarter valued at $80,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Primerica by 9.9% in the third quarter. Van ECK Associates Corp now owns 1,092 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 98 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Primerica from $167.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, March 1st. Truist Financial increased their price objective on Primerica from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Morgan Stanley increased their price objective on Primerica from $150.00 to $162.00 and gave the stock an “equal weight” rating in a report on Friday, February 24th. Finally, StockNews.com assumed coverage on Primerica in a report on Thursday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $189.00.

Insiders Place Their Bets

In other Primerica news, COO Gregory C. Pitts sold 12,903 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $186.71, for a total transaction of $2,409,119.13. Following the transaction, the chief operating officer now directly owns 8,180 shares of the company’s stock, valued at $1,527,287.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $175.47, for a total value of $614,145.00. Following the sale, the president now directly owns 12,252 shares of the company’s stock, valued at $2,149,858.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Gregory C. Pitts sold 12,903 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $186.71, for a total value of $2,409,119.13. Following the completion of the sale, the chief operating officer now directly owns 8,180 shares in the company, valued at $1,527,287.80. The disclosure for this sale can be found here. Insiders have sold 39,168 shares of company stock valued at $7,238,391 over the last three months. 0.85% of the stock is currently owned by insiders.

Primerica Trading Down 3.7 %

Shares of NYSE:PRI opened at $158.11 on Friday. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 16.20 and a beta of 1.20. Primerica, Inc. has a 1 year low of $110.22 and a 1 year high of $195.69. The business has a fifty day simple moving average of $165.10 and a 200 day simple moving average of $146.39.

Primerica (NYSE:PRI – Get Rating) last posted its earnings results on Friday, February 24th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $2.93 by $0.56. The firm had revenue of $686.94 million for the quarter, compared to the consensus estimate of $694.90 million. Primerica had a net margin of 13.71% and a return on equity of 24.87%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.94 earnings per share. On average, sell-side analysts forecast that Primerica, Inc. will post 14.8 EPS for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 21st were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.64%. This is an increase from Primerica’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, February 17th. Primerica’s dividend payout ratio is presently 26.64%.

About Primerica

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Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.