Vest Financial LLC Purchases 3,470 Shares of Primerica, Inc. $PRI

Vest Financial LLC lifted its position in shares of Primerica, Inc. (NYSE:PRI) by 22.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 18,640 shares of the financial services provider’s stock after purchasing an additional 3,470 shares during the quarter. Vest Financial LLC’s holdings in Primerica were worth $5,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Root Financial Partners LLC bought a new position in Primerica in the third quarter worth $27,000. Hilltop National Bank acquired a new position in shares of Primerica in the 2nd quarter valued at $31,000. Quent Capital LLC acquired a new position in shares of Primerica in the 3rd quarter valued at $33,000. Cullen Frost Bankers Inc. bought a new position in shares of Primerica during the 2nd quarter worth about $33,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Primerica by 1,714.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the sale, the chief executive officer owned 33,892 shares in the company, valued at $8,800,057.80. The trade was a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joel M. Babbit sold 700 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total value of $178,500.00. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at approximately $2,142,000. This represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 5,200 shares of company stock valued at $1,338,225. 0.61% of the stock is currently owned by corporate insiders.

Primerica Stock Performance

Shares of NYSE:PRI opened at $260.54 on Thursday. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $298.75. The business has a fifty day moving average of $259.19 and a 200-day moving average of $264.19. The firm has a market cap of $8.32 billion, a PE ratio of 11.97 and a beta of 0.90.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The firm had revenue of $838.88 million during the quarter, compared to analysts’ expectations of $817.81 million. During the same quarter last year, the company posted $4.83 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 21st. Primerica’s payout ratio is 19.12%.

Analyst Ratings Changes

Several research analysts recently issued reports on PRI shares. Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Primerica in a report on Monday, December 29th. Morgan Stanley set a $292.00 price target on Primerica in a research note on Monday, December 15th. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Piper Sandler set a $292.00 price objective on Primerica and gave the company a “neutral” rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $300.00.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.