Aviva PLC Acquires New Holdings in Primerica, Inc. $PRI

Aviva PLC bought a new position in Primerica, Inc. (NYSE:PRI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,880 shares of the financial services provider’s stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of Primerica in the 2nd quarter valued at $31,000. Cullen Frost Bankers Inc. acquired a new position in Primerica in the second quarter valued at about $33,000. First Horizon Advisors Inc. increased its holdings in shares of Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 77 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Primerica by 2,300.0% during the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 161 shares during the period. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research upgraded Primerica from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods reduced 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 Tuesday. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley cut their price objective on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primerica in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $309.83.

Primerica Stock Down 1.7%

NYSE:PRI opened at $254.49 on Friday. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 11.70 and a beta of 0.96. The stock’s 50 day moving average price is $267.72 and its two-hundred day moving average price is $267.15.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The business had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. During the same period last year, the business earned $4.83 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, November 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. Primerica’s payout ratio is currently 19.12%.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total value of $649,125.00. Following the sale, the chief executive officer directly owned 33,892 shares of the company’s stock, valued at approximately $8,800,057.80. This represents a 6.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

About Primerica

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.