Everhart Financial Group Inc. Grows Holdings in Primerica, Inc. (NYSE:PRI)

Everhart Financial Group Inc. grew its holdings in Primerica, Inc. (NYSE:PRI) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,676 shares of the financial services provider’s stock after purchasing an additional 65 shares during the period. Everhart Financial Group Inc.’s holdings in Primerica were worth $726,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning increased its stake in shares of Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after buying an additional 40 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Primerica during the third quarter valued at $31,000. Blue Trust Inc. increased its stake in shares of Primerica by 247.4% during the third quarter. Blue Trust Inc. now owns 667 shares of the financial services provider’s stock valued at $177,000 after buying an additional 475 shares during the period. Raymond James & Associates increased its stake in shares of Primerica by 4.6% during the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock valued at $32,176,000 after buying an additional 5,323 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Primerica during the third quarter valued at $115,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of NYSE PRI opened at $281.29 on Monday. The company has a market cap of $9.39 billion, a PE ratio of 21.49 and a beta of 1.11. The business has a 50-day simple moving average of $282.17 and a two-hundred day simple moving average of $276.08. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, sell-side analysts predict that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica announced that its board has approved a share buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a dividend of $1.04 per share. This is an increase from Primerica’s previous quarterly dividend of $0.90. 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%. Primerica’s payout ratio is 27.50%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several research reports. Morgan Stanley raised their price target on Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods cut their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $310.43.

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.