Ieq Capital LLC Takes $1.44 Million Position in Primerica, Inc. (NYSE:PRI)

Ieq Capital LLC acquired a new position in Primerica, Inc. (NYSE:PRI) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 5,310 shares of the financial services provider’s stock, valued at approximately $1,441,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Prospera Private Wealth LLC bought a new position in shares of Primerica in the 3rd quarter worth $31,000. Golden State Wealth Management LLC bought a new position in Primerica in the fourth quarter valued at $33,000. Larson Financial Group LLC raised its position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 115 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Primerica by 65.5% during the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 95 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Up 0.6 %

Shares of Primerica stock opened at $275.16 on Tuesday. The firm has a market cap of $9.18 billion, a PE ratio of 20.01 and a beta of 1.11. The company’s fifty day simple moving average is $281.79 and its two-hundred day simple moving average is $277.31. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings results 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 return on equity of 31.11% and a net margin of 15.14%. As a group, sell-side analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica declared that its board has approved a share buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $1.04 dividend. This is a positive change 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 yield of 1.51%. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Piper Sandler decreased their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Keefe, Bruyette & Woods lifted 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 Tuesday, February 18th. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, Truist Financial boosted 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and an average price target of $311.14.

Primerica 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.