Compass Wealth Management LLC Buys New Shares in Primerica, Inc. $PRI

Compass Wealth Management LLC bought a new position in Primerica, Inc. (NYSE:PRI) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 3,085 shares of the financial services provider’s stock, valued at approximately $856,000.

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

Analysts Set New Price Targets

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

Primerica Trading Up 1.3%

Shares of NYSE PRI opened at $260.73 on Friday. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $296.00. The firm has a market capitalization of $8.32 billion, a PE ratio of 11.37 and a beta of 0.91. The firm has a fifty day simple moving average of $261.08 and a two-hundred day simple moving average of $263.40.

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

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. Primerica’s payout ratio is presently 18.14%.

Primerica announced that its board has approved a stock repurchase program 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 buy up to 5.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the transaction, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $255.00, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is currently owned by corporate 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.