Atria Wealth Solutions Inc. Grows Holdings in Primerica, Inc. $PRI

Atria Wealth Solutions Inc. raised its stake in Primerica, Inc. (NYSE:PRI) by 7.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,259 shares of the financial services provider’s stock after acquiring an additional 82 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Primerica were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Primerica by 1.1% during the first quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after acquiring an additional 37,994 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of Primerica by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider’s stock worth $372,740,000 after acquiring an additional 21,546 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Primerica by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider’s stock worth $173,963,000 after acquiring an additional 16,350 shares in the last quarter. Nuveen LLC bought a new position in Primerica in the 1st quarter valued at approximately $156,019,000. Finally, Fiduciary Management Inc. WI grew its stake in shares of Primerica by 2.8% in the first quarter. Fiduciary Management Inc. WI now owns 490,923 shares of the financial services provider’s stock worth $139,682,000 after acquiring an additional 13,402 shares during the period. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PRI shares. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley decreased their price target on shares of Primerica from $308.00 to $306.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Jefferies Financial Group decreased their target price on shares of Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Finally, BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.86.

Insider Activity

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Primerica Stock Performance

NYSE PRI opened at $262.66 on Tuesday. The firm’s 50 day moving average price is $270.32 and its 200-day moving average price is $266.55. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The company has a market cap of $8.51 billion, a PE ratio of 12.98 and a beta of 0.97.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same period last year, the firm earned $4.71 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 22nd were paid a dividend of $1.04 per share. The ex-dividend date was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s dividend payout ratio (DPR) is currently 20.55%.

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.