International Assets Investment Management LLC Boosts Holdings in Primerica, Inc. (NYSE:PRI)

International Assets Investment Management LLC increased its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 359,742.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,189 shares of the financial services provider's stock after acquiring an additional 25,182 shares during the period. International Assets Investment Management LLC owned approximately 0.07% of Primerica worth $6,679,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PRI. Van ECK Associates Corp increased its stake in shares of Primerica by 36.5% during the first quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider's stock worth $3,164,000 after purchasing an additional 3,345 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Primerica by 24.5% during the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider's stock valued at $3,076,000 after acquiring an additional 2,393 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Primerica by 456.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider's stock valued at $2,164,000 after acquiring an additional 7,506 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Primerica by 136.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider's stock worth $1,599,000 after acquiring an additional 3,649 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Primerica in the first quarter worth approximately $979,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Price Performance

Shares of PRI stock traded down $2.37 during trading on Friday, hitting $274.44. 121,011 shares of the stock traded hands, compared to its average volume of 154,790. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $284.37. The firm has a market capitalization of $9.28 billion, a P/E ratio of 22.16 and a beta of 1.09. The firm's fifty day moving average price is $266.88 and its 200-day moving average price is $245.33.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.24. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. During the same quarter last year, the firm earned $3.99 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Primerica, Inc. will post 18.13 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Wednesday, August 21st. This is a boost from Primerica's previous quarterly dividend of $0.75. Primerica's dividend payout ratio is currently 28.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PRI shares. Keefe, Bruyette & Woods raised their price objective on Primerica from $255.00 to $275.00 and gave the company a "market perform" rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their price target on shares of Primerica from $239.00 to $249.00 and gave the stock a "hold" rating in a research report on Thursday, July 18th. Morgan Stanley upped their price objective 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. Truist Financial boosted their target price on Primerica from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Finally, Piper Sandler started coverage on Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $281.67.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now owns 45,322 shares of the company's stock, valued at $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is currently owned by company insiders.

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.