Ausbil Investment Management Ltd Has $837,000 Stake in Primerica, Inc. (NYSE:PRI)

Ausbil Investment Management Ltd increased its stake in shares of Primerica, Inc. (NYSE:PRI) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,030 shares of the financial services provider’s stock after purchasing an additional 523 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Primerica were worth $837,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. V Square Quantitative Management LLC purchased a new stake in Primerica in the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica in the 3rd quarter valued at approximately $31,000. UMB Bank n.a. increased its holdings in Primerica by 85.9% in 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. Larson Financial Group LLC raised its position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, Quarry LP raised its position in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 302 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Piper Sandler dropped their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Thursday. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lowered their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Stock Down 0.4 %

Shares of PRI stock opened at $290.14 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The firm has a market cap of $9.68 billion, a PE ratio of 22.16 and a beta of 1.11. The stock has a 50 day moving average of $284.59 and a 200-day moving average of $272.66.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.28 EPS. As a group, equities analysts predict that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica announced that its board has authorized a stock 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 reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is presently 27.50%.

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.