Harbor Capital Advisors Inc. Grows Holdings in Primerica, Inc. (NYSE:PRI)

Harbor Capital Advisors Inc. lifted its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,976 shares of the financial services provider's stock after purchasing an additional 2,010 shares during the period. Harbor Capital Advisors Inc.'s holdings in Primerica were worth $3,251,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Everence Capital Management Inc. acquired a new stake in Primerica during the 4th quarter valued at $228,000. GAMMA Investing LLC boosted its stake in shares of Primerica by 14.9% during the fourth quarter. GAMMA Investing LLC now owns 1,128 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 146 shares during the last quarter. Forthright Family Wealth Advisory LLC purchased a new stake in Primerica during the 3rd quarter worth about $202,000. Wilmington Savings Fund Society FSB purchased a new position in Primerica in the 3rd quarter valued at about $336,000. Finally, Sanctuary Advisors LLC boosted its stake in shares of Primerica by 21.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,632 shares of the financial services provider's stock worth $1,493,000 after purchasing an additional 990 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Friday. Piper Sandler lowered their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research report on Wednesday, December 18th. TD Cowen increased their target price on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $303.00.

Primerica Trading Down 2.6 %

NYSE:PRI traded down $7.18 on Friday, hitting $271.27. 133,419 shares of the stock were exchanged, compared to its average volume of 152,070. The stock has a fifty day moving average of $286.14 and a 200-day moving average of $267.77. The stock has a market cap of $9.05 billion, a PE ratio of 20.72 and a beta of 1.11. 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 posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. 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 prior year, the company earned $4.28 EPS. The company's revenue was up 11.0% on a year-over-year basis. As a group, analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.33%. Primerica's dividend payout ratio (DPR) is 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.