19,131 Shares in Primerica, Inc. (NYSE:PRI) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,131 shares of the financial services provider's stock, valued at approximately $5,073,000. Edgestream Partners L.P. owned about 0.06% of Primerica as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PRI. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Primerica during the third quarter valued at approximately $3,710,000. Harbor Capital Advisors Inc. increased its stake in shares of Primerica by 456.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider's stock worth $2,164,000 after purchasing an additional 7,506 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Primerica in the 2nd quarter worth $3,514,000. SG Americas Securities LLC purchased a new position in Primerica during the second quarter valued at $893,000. Finally, International Assets Investment Management LLC lifted its position in Primerica by 359,742.9% during the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider's stock valued at $6,679,000 after purchasing an additional 25,182 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company's stock, valued at approximately $3,846,081.35. This trade represents a 11.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company's stock.

Primerica Trading Down 0.5 %

Shares of NYSE:PRI traded down $1.52 during midday trading on Friday, reaching $302.75. 48,181 shares of the company were exchanged, compared to its average volume of 133,103. The stock has a market cap of $10.10 billion, a PE ratio of 23.13 and a beta of 1.08. The business's fifty day moving average is $282.86 and its two-hundred day moving average is $257.28. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business's revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.28 EPS. As a group, sell-side analysts expect that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica announced that its board has initiated a stock buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.19%. Primerica's dividend payout ratio (DPR) is 27.50%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRI. Morgan Stanley raised their price objective on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Piper Sandler started coverage on shares of Primerica in a research report on Friday, August 30th. They set a "neutral" rating and a $283.00 price objective on the stock. Finally, Truist Financial upped their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently 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.