Atria Investments Inc Reduces Stock Position in Primerica, Inc. $PRI

Atria Investments Inc lessened its position in Primerica, Inc. (NYSE:PRI) by 22.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,749 shares of the financial services provider’s stock after selling 2,901 shares during the period. Atria Investments Inc’s holdings in Primerica were worth $2,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRI. Root Financial Partners LLC bought a new stake in shares of Primerica in the third quarter worth about $27,000. Smartleaf Asset Management LLC lifted its holdings in Primerica by 186.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Primerica in the 2nd quarter worth approximately $33,000. Quent Capital LLC purchased a new position in shares of Primerica during the third quarter valued at approximately $33,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Primerica by 1,714.3% during the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after buying an additional 120 shares during the period. 90.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on PRI shares. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Morgan Stanley set a $292.00 target price on shares of Primerica in a research note on Monday, December 15th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. One equities 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $300.00.

Insider Activity

In other news, Director Joel M. Babbit sold 700 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the sale, the director owned 8,400 shares in the company, valued at $2,142,000. This represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Primerica Trading Up 0.3%

NYSE PRI opened at $250.91 on Tuesday. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $296.00. The stock’s fifty day moving average price is $260.78 and its 200-day moving average price is $263.51. The stock has a market cap of $8.01 billion, a P/E ratio of 10.94 and a beta of 0.91.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The firm had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same quarter in the previous year, the firm earned $5.03 EPS. Primerica’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be paid a $1.20 dividend. This is a boost from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, February 23rd. Primerica’s payout ratio is currently 18.14%.

Primerica announced that its Board of Directors has approved 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 repurchase up to 5.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Primerica Company 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.