Avior Wealth Management LLC Has $1.25 Million Holdings in Primerica, Inc. (NYSE:PRI)

Avior Wealth Management LLC lessened its holdings in shares of Primerica, Inc. (NYSE:PRI) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,588 shares of the financial services provider’s stock after selling 340 shares during the quarter. Avior Wealth Management LLC’s holdings in Primerica were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Mutual Advisors LLC grew its position in shares of Primerica by 10.8% during the 4th quarter. Mutual Advisors LLC now owns 1,394 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 136 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Primerica by 53.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 7,178 shares of the financial services provider’s stock worth $1,948,000 after acquiring an additional 2,498 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Primerica by 10.9% during the 4th quarter. Ballentine Partners LLC now owns 899 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 88 shares in the last quarter. UMB Bank n.a. boosted 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 acquiring an additional 95 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Primerica during the 4th quarter worth approximately $5,236,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Primerica Price Performance

Shares of NYSE:PRI opened at $289.80 on Friday. The firm has a 50 day simple moving average of $285.15 and a 200 day simple moving average of $271.18. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 22.14 and a beta of 1.11. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.28 earnings per share. As a group, analysts expect that Primerica, Inc. will post 19.79 EPS for the current year.

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

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s payout ratio is currently 27.50%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday. They set a “market perform” rating and a $311.00 price target on the stock. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Truist Financial increased their price target 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. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Primerica currently has an average rating of “Hold” and an average target price of $304.14.

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.