James Investment Research Inc. Cuts Stake in Primerica, Inc. (NYSE:PRI)

James Investment Research Inc. reduced its position in Primerica, Inc. (NYSE:PRI) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,842 shares of the financial services provider’s stock after selling 140 shares during the quarter. James Investment Research Inc.’s holdings in Primerica were worth $1,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Primerica in the third quarter worth $31,000. Prospera Private Wealth LLC purchased a new position in Primerica in the third quarter worth $31,000. Golden State Wealth Management LLC purchased a new position in Primerica in the fourth quarter worth $33,000. Larson Financial Group LLC grew its holdings in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Primerica by 65.5% in 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.

Wall Street Analyst Weigh In

PRI has been the topic of a number of research analyst reports. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley boosted their price objective on shares of Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a report on Friday. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods dropped their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, Truist Financial boosted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $310.43.

Primerica Price Performance

NYSE PRI opened at $281.29 on Friday. The company has a market capitalization of $9.39 billion, a PE ratio of 21.49 and a beta of 1.11. The company has a fifty day moving average of $282.17 and a 200 day moving average of $275.91. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping 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%. Research analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a $1.04 dividend. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 27.50%.

Primerica declared that its Board of Directors has authorized a share repurchase program 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 programs are typically an indication that the company’s board believes its stock is undervalued.

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.