Mutual of America Capital Management LLC Trims Stake in Primerica, Inc. (NYSE:PRI)

Mutual of America Capital Management LLC trimmed its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,863 shares of the financial services provider's stock after selling 1,093 shares during the period. Mutual of America Capital Management LLC owned about 0.11% of Primerica worth $10,277,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Prospera Private Wealth LLC acquired a new stake in shares of Primerica in the third quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new stake in Primerica during the 4th quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after purchasing an additional 115 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 95 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Truist Financial boosted their price objective on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price for the company. Finally, StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $309.86.

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Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business'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 completion of the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Primerica Stock Performance

Shares of NYSE PRI traded up $4.34 during midday trading on Wednesday, hitting $286.04. 124,577 shares of the stock traded hands, compared to its average volume of 142,683. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The business has a 50 day moving average price of $283.52 and a two-hundred day moving average price of $278.73. The company has a market cap of $9.55 billion, a PE ratio of 20.80 and a beta of 1.11.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be given a $1.04 dividend. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.45%. Primerica's dividend payout ratio (DPR) is presently 30.25%.

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

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.