Wealth Alliance Lowers Holdings in Primerica, Inc. (NYSE:PRI)

Wealth Alliance trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,074 shares of the financial services provider’s stock after selling 41 shares during the period. Wealth Alliance’s holdings in Primerica were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of Primerica in the third quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the fourth quarter worth about $33,000. Larson Financial Group LLC lifted its position in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after buying an additional 115 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Primerica by 65.5% in the fourth 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. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the topic of a number of research analyst reports. Piper Sandler decreased 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. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Truist Financial boosted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods boosted their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus price target of $311.14.

Primerica Price Performance

Shares of PRI stock opened at $273.38 on Friday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The stock’s 50 day simple moving average is $281.95 and its two-hundred day simple moving average is $276.58. The company has a market cap of $9.12 billion, a PE ratio of 19.88 and a beta of 1.11.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

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

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. Primerica’s dividend payout ratio is currently 26.18%.

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.