Alps Advisors Inc. Invests $20.52 Million in Primerica, Inc. $PRI

Alps Advisors Inc. bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 73,936 shares of the financial services provider’s stock, valued at approximately $20,524,000. Alps Advisors Inc. owned approximately 0.23% of Primerica at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Nordea Investment Management AB bought a new position in shares of Primerica during the 3rd quarter worth approximately $51,004,000. First Trust Advisors LP boosted its stake in Primerica by 35.9% during the second quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider’s stock worth $119,847,000 after acquiring an additional 115,754 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Primerica by 30.5% in the second quarter. Envestnet Asset Management Inc. now owns 133,692 shares of the financial services provider’s stock worth $36,587,000 after purchasing an additional 31,278 shares during the period. Qube Research & Technologies Ltd increased its stake in 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 purchasing an additional 30,533 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Primerica by 26.2% in the second quarter. JPMorgan Chase & Co. now owns 136,315 shares of the financial services provider’s stock valued at $37,308,000 after purchasing an additional 28,283 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Morgan Stanley set a $292.00 price target on Primerica in a research note on Monday, December 15th. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Primerica currently has an average rating of “Moderate Buy” and an average price target of $300.00.

Primerica Stock Performance

Primerica stock opened at $276.37 on Monday. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $298.75. The firm’s 50-day simple moving average is $260.40 and its 200 day simple moving average is $263.85. The stock has a market cap of $8.82 billion, a PE ratio of 12.70 and a beta of 0.91.

Primerica announced that its board has initiated a share repurchase program on Wednesday, November 19th that authorizes the company to buyback $475.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the sale, the chief executive officer directly owned 33,892 shares of the company’s stock, valued at $8,800,057.80. This trade represents a 6.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on Monday, November 17th. The stock was sold at an average price of $255.30, for a total value of $510,600.00. Following the sale, the president owned 7,301 shares in the company, valued at $1,863,945.30. The trade was a 21.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,200 shares of company stock valued at $1,338,225. 0.61% of the stock is owned by insiders.

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.