Primerica, Inc. (NYSE:PRI) Stock Position Decreased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its holdings in Primerica, Inc. (NYSE:PRI) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,360 shares of the financial services provider’s stock after selling 1,656 shares during the period. Marks Group Wealth Management Inc owned about 0.10% of Primerica worth $9,055,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $8,767,000. Geode Capital Management LLC grew its stake in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares during the last quarter. International Assets Investment Management LLC increased its position in Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock worth $6,679,000 after buying an additional 25,182 shares during the period. Artemis Investment Management LLP bought a new stake in Primerica in the fourth quarter valued at $5,236,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Primerica during the third quarter valued at $5,073,000. Institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Primerica stock opened at $290.74 on Wednesday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock has a market capitalization of $9.70 billion, a PE ratio of 22.21 and a beta of 1.11. The firm has a 50 day simple moving average of $283.22 and a 200-day simple moving average of $275.15.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, analysts forecast that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its board has initiated a share repurchase 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $304.14.

Primerica 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.