3,709 Shares in Primerica, Inc. (NYSE:PRI) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,709 shares of the financial services provider's stock, valued at approximately $983,000.

Several other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Primerica during the third quarter worth $31,000. Prospera Private Wealth LLC acquired a new position in Primerica during the third quarter worth approximately $31,000. ORG Partners LLC bought a new stake in Primerica in the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in shares of Primerica by 85.9% in 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 last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Primerica by 45.5% during the 2nd 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. Institutional investors own 90.88% of the company's stock.

Primerica Stock Performance

Shares of NYSE PRI traded down $2.15 during trading on Thursday, hitting $295.73. 112,724 shares of the company traded hands, compared to its average volume of 152,957. The business's fifty day moving average is $284.96 and its 200 day moving average is $258.59. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 22.91 and a beta of 1.09. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week 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. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the company posted $4.28 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica declared that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.22%. Primerica's dividend payout ratio is presently 27.50%.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction dated 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 $3,846,081.35. This represents a 11.66 % decrease in their position. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PRI shares. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. Morgan Stanley upped their price target on shares of Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a research note on Monday, August 19th. TD Cowen raised 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. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They issued a "neutral" rating and a $283.00 target price on the stock. Finally, StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Primerica presently has an average rating of "Hold" and an average price target 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.