Swiss National Bank Cuts Stock Holdings in Primerica, Inc. (NYSE:PRI)

Swiss National Bank lessened its holdings in Primerica, Inc. (NYSE:PRIGet Rating) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 93,000 shares of the financial services provider’s stock after selling 300 shares during the quarter. Swiss National Bank’s holdings in Primerica were worth $11,131,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRI. Signaturefd LLC increased its holdings in Primerica by 84.2% in the first quarter. Signaturefd LLC now owns 420 shares of the financial services provider’s stock valued at $57,000 after buying an additional 192 shares during the last quarter. National Asset Management Inc. purchased a new position in Primerica in the first quarter valued at $271,000. State of New Jersey Common Pension Fund D increased its holdings in Primerica by 10.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 23,454 shares of the financial services provider’s stock valued at $3,209,000 after buying an additional 2,190 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Primerica by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 53,233 shares of the financial services provider’s stock valued at $7,283,000 after buying an additional 459 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Primerica by 4.9% in the first quarter. Commonwealth Equity Services LLC now owns 2,593 shares of the financial services provider’s stock valued at $354,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.

Primerica Stock Performance

Shares of PRI opened at $143.18 on Friday. Primerica, Inc. has a fifty-two week low of $110.22 and a fifty-two week high of $159.47. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 20.19 and a beta of 1.24. The firm has a 50-day simple moving average of $133.91 and a 200-day simple moving average of $127.54.

Primerica (NYSE:PRIGet Rating) last announced its earnings results on Tuesday, November 8th. The financial services provider reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.08. Primerica had a net margin of 10.01% and a return on equity of 22.96%. The business had revenue of $673.29 million during the quarter, compared to the consensus estimate of $675.99 million. During the same quarter in the prior year, the firm earned $2.98 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Primerica, Inc. will post 10.99 EPS for the current year.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 22nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $2.20 annualized dividend and a dividend yield of 1.54%. Primerica’s dividend payout ratio (DPR) is 31.03%.

Primerica announced that its Board of Directors has approved a share buyback plan on Thursday, August 11th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on PRI. StockNews.com began coverage on Primerica in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Truist Financial increased their target price on Primerica from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Morgan Stanley upped their price objective on shares of Primerica from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, William Blair downgraded shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $161.40.

Insider Transactions at Primerica

In other news, CFO Alison S. Rand sold 1,500 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $127.40, for a total transaction of $191,100.00. Following the completion of the sale, the chief financial officer now owns 12,433 shares in the company, valued at $1,583,964.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.85% of the company’s stock.

Primerica Company Profile

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Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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