Vestmark Advisory Solutions Inc. Has $5.43 Million Position in Primerica, Inc. (NYSE:PRI)

Vestmark Advisory Solutions Inc. cut its holdings in Primerica, Inc. (NYSE:PRI) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,015 shares of the financial services provider’s stock after selling 47 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Primerica were worth $5,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc boosted its position in Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after buying an additional 36 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Primerica by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after purchasing an additional 43 shares during the last quarter. Dana Investment Advisors Inc. grew its position in shares of Primerica by 1.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 45 shares during the period. Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% in the 3rd 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 during the last quarter. Finally, Assetmark Inc. raised its position in shares of Primerica by 3.9% in the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 57 shares during the period. 90.88% of the stock is owned by institutional investors.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRI. Piper Sandler cut their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Morgan Stanley dropped their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised their price target 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, Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $309.86.

Primerica Stock Performance

NYSE:PRI opened at $286.04 on Thursday. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The company has a market cap of $9.55 billion, a P/E ratio of 20.80 and a beta of 1.11. The stock’s 50-day simple moving average is $283.52 and its 200 day simple moving average is $278.73.

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

Primerica declared that its board 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 repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

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.