Primerica, Inc. (NYSE:PRI) Stock Position Increased by Callan Family Office LLC

Callan Family Office LLC raised its position in shares of Primerica, Inc. (NYSE:PRI) by 273.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,024 shares of the financial services provider’s stock after purchasing an additional 3,680 shares during the period. Callan Family Office LLC’s holdings in Primerica were worth $1,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in shares of Primerica in the third quarter worth $31,000. Golden State Wealth Management LLC acquired a new stake in Primerica in the fourth quarter worth about $33,000. Larson Financial Group LLC grew its position in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after buying an additional 115 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after buying an additional 95 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of PRI stock opened at $280.74 on Friday. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 20.42 and a beta of 1.11. The firm has a fifty day moving average of $283.93 and a 200-day moving average of $278.89. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be given a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s payout ratio is currently 30.25%.

Primerica declared that its Board of Directors has authorized a share buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PRI. Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Truist Financial raised their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler cut their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and a consensus target price of $309.86.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.85% of the company’s stock.

Primerica Company Profile

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.