Livforsakringsbolaget Skandia Omsesidigt Acquires 1,900 Shares of Primerica, Inc. (NYSE:PRI)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,600 shares of the financial services provider's stock after purchasing an additional 1,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Primerica were worth $2,545,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PRI. Blue Trust Inc. grew its stake in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 60 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in Primerica by 2.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider's stock valued at $625,000 after acquiring an additional 62 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in Primerica by 1.0% during the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider's stock valued at $1,484,000 after purchasing an additional 62 shares during the last quarter. UMB Bank n.a. lifted its position in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Primerica by 5.4% during the second quarter. Inspire Investing LLC now owns 1,483 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Performance

NYSE:PRI traded up $2.58 during midday trading on Friday, reaching $277.57. 137,560 shares of the stock traded hands, compared to its average volume of 157,115. The company has a fifty day moving average of $259.85 and a 200 day moving average of $242.08. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $279.89. The stock has a market capitalization of $9.55 billion, a P/E ratio of 16.89 and a beta of 1.09.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million for the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.99 EPS. On average, analysts predict that Primerica, Inc. will post 18.05 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a $0.90 dividend. The ex-dividend date was Wednesday, August 21st. This is an increase from Primerica's previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.30%. Primerica's dividend payout ratio is currently 21.91%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRI. Truist Financial lifted their target price on shares of Primerica from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a "market perform" rating in a report on Wednesday, July 17th. TD Cowen assumed coverage on shares of Primerica in a report on Wednesday. They issued a "buy" rating and a $314.00 price objective for the company. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price objective for the company. Finally, StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $281.67.

Insider Transactions at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the sale, the director now directly owns 15,151 shares of the company's stock, valued at $3,846,081.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John A. Jr. Addison sold 2,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock valued at $1,657,015 in the last three months. 0.85% of the stock is currently owned by company insiders.

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.