Primerica, Inc. (NYSE:PRI) Shares Bought by Atria Investments Inc

Atria Investments Inc grew its position in Primerica, Inc. (NYSE:PRI) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,950 shares of the financial services provider’s stock after acquiring an additional 662 shares during the quarter. Atria Investments Inc’s holdings in Primerica were worth $2,373,000 as of its most recent SEC filing.

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

Primerica Stock Performance

Shares of PRI stock opened at $296.82 on Friday. Primerica, Inc. has a one year low of $184.76 and a one year high of $304.84. The firm’s 50 day moving average price is $272.02 and its 200-day moving average price is $250.23. The firm has a market cap of $9.90 billion, a P/E ratio of 22.68 and a beta of 1.08.

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

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

Primerica Announces Dividend

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

Insider Activity at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,500 shares of company stock worth $1,803,175. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of analyst reports. Piper Sandler assumed coverage on Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Thursday. TD Cowen began coverage on shares of Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price on the stock. Finally, Truist Financial raised their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $288.33.

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.