Petrus Trust Company LTA Makes New $1.35 Million Investment in Primerica, Inc. (NYSE:PRI)

Petrus Trust Company LTA acquired a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,095 shares of the financial services provider's stock, valued at approximately $1,351,000. Primerica makes up about 0.1% of Petrus Trust Company LTA's investment portfolio, making the stock its 24th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Primerica in the third quarter valued at about $3,710,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Primerica during the second quarter worth $3,514,000. SG Americas Securities LLC bought a new position in shares of Primerica in the second quarter worth $893,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Primerica in the third quarter valued at $646,000. Finally, International Assets Investment Management LLC grew its position in shares of Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider's stock valued at $6,679,000 after purchasing an additional 25,182 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

PRI stock traded down $0.69 during midday trading on Wednesday, hitting $297.88. The stock had a trading volume of 97,265 shares, compared to its average volume of 153,128. The business has a 50-day moving average of $284.29 and a two-hundred day moving average of $258.31. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 22.70 and a beta of 1.09.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 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 the consensus estimate of $745.25 million. During the same period in the previous year, the company posted $4.28 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 21st. Primerica's payout ratio is currently 27.50%.

Primerica announced that its Board of Directors has approved a share repurchase 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 buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PRI. Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They issued a "neutral" rating and a $283.00 price target on the stock. Truist Financial boosted their target price 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 boosted their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upped their price target on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and a consensus price target of $293.50.

Insider Activity

In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was 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 of the company's stock, valued at approximately $3,846,081.35. This represents a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

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.