Farther Finance Advisors LLC Purchases 1,368 Shares of Primerica, Inc. (NYSE:PRI)

Farther Finance Advisors LLC boosted its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 341.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,769 shares of the financial services provider's stock after purchasing an additional 1,368 shares during the quarter. Farther Finance Advisors LLC's holdings in Primerica were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Primerica during the third quarter worth $31,000. Golden State Wealth Management LLC acquired a new position in Primerica in the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its stake in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. Larson Financial Group LLC raised its stake in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 54 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 115 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Peter W. Schneider sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by insiders.

Remove Ads

Wall Street Analyst Weigh In

PRI has been the subject of a number of analyst reports. TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price for the company. Morgan Stanley lowered their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Finally, Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Primerica currently has a consensus rating of "Hold" and an average price target of $309.86.

Primerica Price Performance

Shares of Primerica stock traded down $0.74 during trading on Thursday, hitting $288.65. The company's stock had a trading volume of 155,321 shares, compared to its average volume of 145,497. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 20.99 and a beta of 1.12. The stock has a 50-day moving average price of $285.36 and a two-hundred day moving average price of $280.25.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, equities analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio is 30.25%.

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.