Primerica, Inc. $PRI Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. decreased its holdings in Primerica, Inc. (NYSE:PRI) by 71.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,968 shares of the financial services provider’s stock after selling 14,820 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Primerica were worth $1,657,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Burgundy Asset Management Ltd. lifted its holdings in Primerica by 1.8% in the second quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock worth $364,932,000 after purchasing an additional 23,454 shares during the period. First Trust Advisors LP raised its position in shares of Primerica by 35.9% during the 2nd quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider’s stock worth $119,847,000 after buying an additional 115,754 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Primerica by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 318,653 shares of the financial services provider’s stock worth $87,206,000 after acquiring an additional 3,024 shares during the period. AQR Capital Management LLC lifted its stake in shares of Primerica by 171.8% in the 1st quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider’s stock worth $89,907,000 after acquiring an additional 199,715 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Primerica by 21.7% in the second quarter. Qube Research & Technologies Ltd now owns 171,172 shares of the financial services provider’s stock valued at $46,845,000 after acquiring an additional 30,533 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent analyst reports. Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Morgan Stanley set a $292.00 price objective on Primerica in a research note on Monday, December 15th. BMO Capital Markets raised Primerica from a “market perform” rating to an “outperform” rating and raised their target price for the company from $292.00 to $318.00 in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a report on Monday. Finally, 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 Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $300.00.

Primerica Stock Down 0.1%

Shares of Primerica stock opened at $262.09 on Friday. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $298.75. The firm has a market capitalization of $8.37 billion, a PE ratio of 12.04 and a beta of 0.90. The stock’s fifty day moving average is $258.48 and its 200-day moving average is $264.65.

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

Primerica Dividend Announcement

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

Primerica declared that its board has authorized a stock repurchase plan on Wednesday, November 19th that allows the company to buyback $475.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $255.30, for a total value of $510,600.00. Following the completion of the sale, the president owned 7,301 shares in the company, valued at approximately $1,863,945.30. This represents a 21.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joel M. Babbit sold 700 shares of Primerica stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the transaction, the director owned 8,400 shares in the company, valued at approximately $2,142,000. The trade was a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,200 shares of company stock worth $1,338,225. 0.61% of the stock is owned by corporate insiders.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.