Wealth Alliance Lowers Holdings in Primerica, Inc. (NYSE:PRI)

Wealth Alliance decreased its stake in shares of Primerica, Inc. (NYSE:PRI) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,074 shares of the financial services provider’s stock after selling 41 shares during the quarter. Wealth Alliance’s holdings in Primerica were worth $291,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after buying an additional 25,951 shares during the last quarter. Barclays PLC raised its stake in Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC purchased a new position in shares of Primerica in the fourth quarter worth $543,000. Oak Thistle LLC raised its stake in shares of Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,943 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Primerica in the third quarter worth $3,710,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PRI. TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday. Piper Sandler decreased their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Morgan Stanley boosted their price target on Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $311.14.

Primerica Price Performance

Shares of PRI opened at $273.38 on Friday. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The firm has a market capitalization of $9.12 billion, a P/E ratio of 19.88 and a beta of 1.11. The business has a fifty day moving average of $281.95 and a 200 day moving average of $276.58.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its Board of Directors has approved a stock buyback 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 purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 26.18%.

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.