Charles Schwab Investment Management Inc. lowered its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 327,615 shares of the financial services provider's stock after selling 4,905 shares during the period. Charles Schwab Investment Management Inc. owned 0.98% of Primerica worth $88,921,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock worth $184,807,000 after buying an additional 25,951 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after purchasing an additional 11,612 shares during the last quarter. Prospector Partners LLC boosted its stake in Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider's stock valued at $20,431,000 after purchasing an additional 210 shares during the last quarter. Stifel Financial Corp boosted its stake in Primerica by 0.5% during the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider's stock valued at $16,965,000 after purchasing an additional 333 shares during the last quarter. Finally, Running Oak Capital LLC boosted its stake in Primerica by 3.7% during the 4th quarter. Running Oak Capital LLC now owns 53,644 shares of the financial services provider's stock valued at $14,560,000 after purchasing an additional 1,919 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.
Primerica Stock Performance
Shares of Primerica stock opened at $280.74 on Monday. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The stock's fifty day moving average is $283.93 and its 200 day moving average is $279.17. The stock has a market cap of $9.34 billion, a P/E ratio of 20.42 and a beta of 1.12.
Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.
Primerica Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. This is a boost from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, February 21st. Primerica's dividend payout ratio (DPR) is currently 30.25%.
Primerica announced that its board has approved a share buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
Several analysts have commented on the company. BMO Capital Markets began coverage on Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price on the stock. Piper Sandler lowered their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Keefe, Bruyette & Woods increased their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Morgan Stanley lowered their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $309.86.
Check Out Our Latest Stock Report on Primerica
Insider Buying and Selling at Primerica
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company's stock, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 over the last ninety days. 0.85% of the stock is currently owned by company insiders.
Primerica Profile
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Free Report)
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.
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