Artemis Investment Management LLP Takes Position in Primerica, Inc. (NYSE:PRI)

Artemis Investment Management LLP purchased a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,292 shares of the financial services provider's stock, valued at approximately $5,236,000. Artemis Investment Management LLP owned 0.06% of Primerica as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter valued at $31,000. Prospera Private Wealth LLC purchased a new position in Primerica during the 3rd quarter valued at about $31,000. UMB Bank n.a. increased its position in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after buying an additional 67 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after buying an additional 54 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Primerica by 629.2% in the third quarter. Quarry LP now owns 350 shares of the financial services provider's stock valued at $93,000 after acquiring an additional 302 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Price Performance

NYSE:PRI traded up $3.19 during mid-day trading on Monday, reaching $291.93. 108,513 shares of the company's stock traded hands, compared to its average volume of 166,520. The company has a 50 day moving average price of $285.92 and a 200-day moving average price of $269.66. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 22.30 and a beta of 1.11. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million for 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 business's revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.28 earnings per share. As a group, analysts forecast that Primerica, Inc. will post 19.55 EPS for the current year.

Primerica declared that its Board of Directors has initiated a share buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica's payout ratio is 27.50%.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares of the company's stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PRI shares. Keefe, Bruyette & Woods lowered their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Friday, January 10th. TD Cowen lifted their price objective on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Truist Financial upped 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. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Finally, Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Primerica currently has an average rating of "Hold" and a consensus target price of $303.00.

Primerica 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.