Aptus Capital Advisors LLC Raises Holdings in Primerica, Inc. $PRI

Aptus Capital Advisors LLC raised its position in Primerica, Inc. (NYSE:PRI) by 15.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,439 shares of the financial services provider’s stock after purchasing an additional 6,746 shares during the period. Aptus Capital Advisors LLC owned 0.16% of Primerica worth $14,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRI. Burgundy Asset Management Ltd. raised its stake in Primerica by 1.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock worth $364,932,000 after acquiring an additional 23,454 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Primerica by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after purchasing an additional 2,525 shares during the period. First Trust Advisors LP increased its stake in Primerica by 35.9% in the 2nd quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider’s stock valued at $119,847,000 after buying an additional 115,754 shares during the period. Bank of New York Mellon Corp raised its position in Primerica by 1.0% during 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 buying an additional 3,024 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Primerica by 2.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock worth $71,278,000 after acquiring an additional 6,623 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were 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 trade represents a 8.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

Primerica Trading Down 2.5%

Shares of NYSE PRI opened at $257.65 on Friday. The stock has a 50 day simple moving average of $260.65 and a 200-day simple moving average of $263.13. The company has a market cap of $8.16 billion, a PE ratio of 11.24 and a beta of 0.92. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $296.00.

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

Primerica announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 19th that allows the company to buyback $475.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. This is a boost from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is 20.93%.

Analyst Ratings Changes

PRI has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. TD Cowen reissued a “buy” rating on shares of Primerica in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lowered 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. Finally, Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $298.60.

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.