Ibex Wealth Advisors Makes New $305,000 Investment in Primerica, Inc. (NYSE:PRI)

Ibex Wealth Advisors purchased a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,125 shares of the financial services provider's stock, valued at approximately $305,000.

A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in 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 purchasing an additional 25,951 shares during the period. Barclays PLC grew its stake in shares of Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after buying an additional 10,635 shares during the last quarter. Oak Thistle LLC increased its holdings in shares of Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider's stock worth $1,340,000 after buying an additional 1,943 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Primerica in the 3rd quarter worth approximately $3,710,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Primerica by 320.6% in the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider's stock worth $1,525,000 after buying an additional 4,383 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Piper Sandler cut their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Primerica presently has a consensus rating of "Hold" and a consensus target price of $304.14.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, November 11th. The stock was 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 owns 36,322 shares of the company's stock, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.85% of the company's stock.

Primerica Stock Up 0.5 %

Shares of NYSE:PRI traded up $1.38 during midday trading on Thursday, reaching $293.13. The company's stock had a trading volume of 51,543 shares, compared to its average volume of 131,809. The firm has a 50 day moving average of $284.72 and a 200-day moving average of $272.53. The firm has a market capitalization of $9.78 billion, a P/E ratio of 22.39 and a beta of 1.11. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share 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 business had revenue of $774.13 million for the quarter, compared to analysts' expectations of $745.25 million. During the same quarter in the prior year, the company earned $4.28 earnings per share. The business's revenue was up 11.0% compared to the same quarter last year. On average, research analysts predict that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Thursday, November 21st. Primerica's payout ratio is 27.50%.

Primerica declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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.