Primerica, Inc. (NYSE:PRI) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 37.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,068 shares of the financial services provider’s stock after selling 6,750 shares during the period. Algert Global LLC’s holdings in Primerica were worth $2,935,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Burgundy Asset Management Ltd. grew its position in shares of Primerica by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock valued at $292,688,000 after buying an additional 17,095 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after purchasing an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after purchasing an additional 21,836 shares during the period. Raymond James & Associates lifted its holdings in shares of Primerica by 4.6% in the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after purchasing an additional 5,323 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Primerica by 8.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock valued at $28,742,000 after purchasing an additional 8,641 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Up 0.5 %

PRI stock opened at $304.93 on Wednesday. The firm’s 50-day moving average is $280.07 and its two-hundred day moving average is $255.60. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.29 and a beta of 1.08. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $306.48.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.28 earnings per share. On average, equities research analysts predict that Primerica, Inc. will post 19.12 earnings per share for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.18%. Primerica’s dividend payout ratio (DPR) is 27.50%.

Primerica announced that its board has authorized a stock repurchase program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley increased their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler initiated coverage on shares of Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. Truist Financial upped their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday. Finally, StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $293.50.

Insider Activity at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares in the company, valued at approximately $3,846,081.35. This trade represents a 11.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.