Erste Asset Management GmbH Buys New Position in Primerica, Inc. (NYSE:PRI)

Erste Asset Management GmbH purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,500 shares of the financial services provider's stock, valued at approximately $921,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in shares of Primerica during the 2nd quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. raised its holdings in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after acquiring an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after acquiring an additional 54 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Down 0.2 %

Shares of NYSE:PRI traded down $0.69 during trading on Wednesday, hitting $297.88. The stock had a trading volume of 97,265 shares, compared to its average volume of 153,128. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 22.76 and a beta of 1.09. The stock has a 50-day simple moving average of $284.96 and a two-hundred day simple moving average of $258.59.

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

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica's payout ratio is currently 27.50%.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PRI shares. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a report on Monday, August 19th. StockNews.com upgraded Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. TD Cowen increased their target price on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Truist Financial increased their target price on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Piper Sandler began coverage on Primerica in a research report on Friday, August 30th. They set a "neutral" rating and a $283.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $293.50.

Insider Buying and Selling at Primerica

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares of the company's stock, valued at approximately $3,846,081.35. The trade was a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

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.