SVB Wealth LLC Takes Position in Primerica, Inc. (NYSE:PRI)

SVB Wealth LLC acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 39,433 shares of the financial services provider’s stock, valued at approximately $10,703,000. SVB Wealth LLC owned approximately 0.12% of Primerica as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PRI. Prospera Private Wealth LLC purchased a new position in shares of Primerica in the 3rd quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica during the fourth quarter valued at about $33,000. Larson Financial Group LLC boosted its holdings in shares of 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 grew its position in shares of Primerica by 116.2% in the 4th 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 during the last quarter. Finally, UMB Bank n.a. raised its stake 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. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Primerica Price Performance

NYSE PRI opened at $289.86 on Friday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The company has a market capitalization of $9.67 billion, a PE ratio of 21.08 and a beta of 1.11. The company has a fifty day moving average of $282.64 and a 200 day moving average of $277.96.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica announced that its board has initiated a stock 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 purchase 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.

Primerica Increases Dividend

The company also recently disclosed 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 1.44%. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PRI shares. Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Piper Sandler reduced 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. TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets began coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $309.86.

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.