B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 13,993 Primerica, Inc. (NYSE:PRI)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,993 shares of the financial services provider’s stock, valued at approximately $3,710,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in Primerica during the 2nd quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Primerica during the third quarter worth $31,000. UMB Bank n.a. raised its stake in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the last quarter. Blue Trust Inc. lifted its holdings in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in Primerica during the second quarter valued at $71,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Down 1.1 %

NYSE PRI opened at $294.65 on Thursday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $304.84. The business has a 50 day moving average price of $275.46 and a 200-day moving average price of $252.80. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.28 earnings per share. On average, equities research analysts anticipate that Primerica, Inc. will post 19.12 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.22%. Primerica’s dividend payout ratio (DPR) is currently 27.50%.

Primerica announced that its Board of Directors has initiated a share buyback 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 purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PRI has been the subject of several research analyst reports. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their target price on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. TD Cowen started coverage on Primerica in a report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price target on the stock. Piper Sandler assumed coverage on shares of Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Finally, Truist Financial increased their target price 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $288.33.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. The trade was a 12.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,500 shares of company stock valued at $1,803,175. Corporate insiders own 0.61% of the company’s stock.

About Primerica

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.