IFP Advisors Inc Acquires 77 Shares of Primerica, Inc. (NYSE:PRI)

IFP Advisors Inc lifted its holdings in Primerica, Inc. (NYSE:PRI) by 7.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,164 shares of the financial services provider’s stock after purchasing an additional 77 shares during the period. IFP Advisors Inc’s holdings in Primerica were worth $316,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PRI. Prospera Private Wealth LLC bought a new position in shares of Primerica in the third quarter worth about $31,000. Golden State Wealth Management LLC bought a new position in shares of Primerica in the fourth quarter worth about $33,000. Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 115 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 95 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $309.86.

Primerica Trading Up 2.0 %

NYSE PRI opened at $289.86 on Friday. The stock’s 50 day moving average is $282.64 and its two-hundred day moving average is $278.13. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 21.08 and a beta of 1.11. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

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

Primerica Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.44%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. Primerica’s payout ratio is presently 30.25%.

Primerica declared that its Board of Directors has approved a stock repurchase program 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 repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.85% of the company’s stock.

Primerica Company 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.