Golden State Wealth Management LLC Buys Shares of 123 Primerica, Inc. (NYSE:PRI)

Golden State Wealth Management LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 123 shares of the financial services provider’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Primerica in the 3rd quarter valued at about $31,000. Prospera Private Wealth LLC bought a new position in Primerica in the third quarter worth about $31,000. UMB Bank n.a. lifted its holdings in Primerica by 85.9% in the third 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 during the period. Larson Financial Group LLC boosted its position in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, Quarry LP raised its position in shares of Primerica by 629.2% in the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 302 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Primerica Trading Down 0.8 %

PRI 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 company has a market cap of $9.70 billion, a price-to-earnings ratio of 22.21 and a beta of 1.11. The company’s 50 day moving average is $283.22 and its 200 day moving average is $275.15.

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 analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. As a group, analysts predict that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica declared that its board has authorized a share buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are 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.