Primerica, Inc. (NYSE:PRI) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 320.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,750 shares of the financial services provider's stock after buying an additional 4,383 shares during the period. BNP Paribas Financial Markets' holdings in Primerica were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PRI. Millennium Management LLC increased its stake in Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock worth $161,102,000 after buying an additional 678,752 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Primerica by 66.3% during the second quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider's stock worth $23,601,000 after acquiring an additional 39,761 shares during the period. Squarepoint Ops LLC raised its stake in shares of Primerica by 2,986.9% in the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider's stock valued at $7,595,000 after acquiring an additional 31,064 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Primerica in the second quarter valued at $71,000. Finally, International Assets Investment Management LLC grew its stake in Primerica by 359,742.9% during the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider's stock worth $6,679,000 after purchasing an additional 25,182 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

PRI has been the subject of a number of analyst reports. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Piper Sandler started coverage on shares of Primerica in a research note on Friday, August 30th. They set a "neutral" rating and a $283.00 price target on the stock. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Finally, Morgan Stanley boosted their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $293.50.

Primerica Stock Performance

Primerica stock traded down $8.32 during trading on Monday, reaching $287.27. The company had a trading volume of 107,327 shares, compared to its average volume of 152,723. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock's 50 day moving average price is $286.64 and its two-hundred day moving average price is $260.16. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 21.95 and a beta of 1.09.

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

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

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, November 21st. Primerica's dividend payout ratio (DPR) is presently 27.50%.

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.