Jane Street Group LLC Grows Stock Holdings in Primerica, Inc. (NYSE:PRI)

Jane Street Group LLC raised its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 6.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,806 shares of the financial services provider's stock after buying an additional 1,830 shares during the quarter. Jane Street Group LLC owned about 0.09% of Primerica worth $8,168,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Primerica in the third quarter worth $31,000. Prospera Private Wealth LLC bought a new position in Primerica in the 3rd quarter worth about $31,000. ORG Partners LLC purchased a new stake in shares of Primerica in the 2nd quarter valued at about $30,000. UMB Bank n.a. boosted its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

NYSE PRI traded down $3.38 during trading on Friday, hitting $281.16. 114,850 shares of the company's stock traded hands, compared to its average volume of 152,484. The firm has a market cap of $9.38 billion, a P/E ratio of 21.48 and a beta of 1.09. The stock has a fifty day moving average of $287.74 and a two-hundred day moving average of $261.23. 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 posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping 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 business had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. Primerica's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $4.28 EPS. As a group, analysts expect that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued 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 1.28%. Primerica's dividend payout ratio is currently 27.50%.

Insiders Place Their Bets

In related news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred 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 $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price 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. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. TD Cowen upped their target price 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 initiated coverage on Primerica in a research report on Friday, August 30th. They set a "neutral" rating and a $283.00 price target on the stock. Finally, Truist Financial upped their price objective on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Primerica currently has a consensus rating of "Hold" and an average price target of $293.50.

About Primerica

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.