Entropy Technologies LP Buys New Stake in Primerica, Inc. (NYSE:PRI)

Entropy Technologies LP bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the 3rd quarter, Holdings Channel.com reports. The firm bought 2,700 shares of the financial services provider’s stock, valued at approximately $716,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC acquired a new position in shares of Primerica during the 2nd quarter valued at $30,000. V Square Quantitative Management LLC acquired a new position in Primerica in the 3rd quarter worth $31,000. UMB Bank n.a. lifted its holdings in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Blue Trust Inc. lifted its holdings in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Primerica in the 2nd quarter worth $71,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley boosted their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Truist Financial boosted 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. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group boosted their price objective on shares of Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $288.33.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at $2,678,727.49. This represents a 12.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,803,175 in the last quarter. Insiders own 0.85% of the company’s stock.

Primerica Stock Performance

PRI opened at $296.82 on Friday. The company has a 50-day moving average of $272.02 and a 200-day moving average of $250.23. The company has a market capitalization of $9.90 billion, a P/E ratio of 22.68 and a beta of 1.08. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $304.84.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the firm earned $4.28 EPS. The company’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio is presently 27.50%.

Primerica announced that its Board of Directors has authorized a share repurchase program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.