985 Shares in Primerica, Inc. (NYSE:PRI) Bought by Centiva Capital LP

Centiva Capital LP purchased a new stake in Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 985 shares of the financial services provider’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of Primerica in the 2nd quarter worth approximately $893,000. ORG Partners LLC purchased a new position in shares of Primerica during the 2nd quarter valued at $30,000. Envestnet Portfolio Solutions Inc. raised its holdings in Primerica by 3.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,561 shares of the financial services provider’s stock valued at $1,552,000 after acquiring an additional 239 shares during the period. JLB & Associates Inc. lifted its position in shares of Primerica by 32.0% during the second quarter. JLB & Associates Inc. now owns 12,971 shares of the financial services provider’s stock worth $3,069,000 after acquiring an additional 3,142 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares during the period. 90.88% of the stock is owned by institutional investors.

Primerica Stock Performance

Shares of PRI opened at $282.83 on Thursday. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91. The firm has a 50 day moving average price of $287.28 and a 200-day moving average price of $260.69. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 21.61 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period last year, the firm earned $4.28 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica declared that its board has initiated a share buyback program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value 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. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRI. Piper Sandler started coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Morgan Stanley raised their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $293.50.

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.