Point72 Asia Singapore Pte. Ltd. Takes $646,000 Position in Primerica, Inc. (NYSE:PRI)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,438 shares of the financial services provider's stock, valued at approximately $646,000.

A number of other large investors have also recently bought and sold shares of PRI. ORG Partners LLC acquired a new position in shares of Primerica in the second quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the 3rd quarter valued at approximately $31,000. Prospera Private Wealth LLC purchased a new position in Primerica during the third quarter valued at approximately $31,000. UMB Bank n.a. raised its stake in Primerica by 85.9% in 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 in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Primerica by 56.8% in the third 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. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PRI shares. Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 target price for the company. TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Truist Financial upped their price target on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Morgan Stanley lifted their target price on shares of Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a report on Monday, August 19th. Finally, StockNews.com upgraded Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $293.50.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the sale, the director now owns 15,151 shares in the company, valued at approximately $3,846,081.35. The trade was a 11.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company's stock.

Primerica Trading Down 1.0 %

NYSE PRI traded down $2.99 during trading hours on Monday, reaching $299.76. The company's stock had a trading volume of 53,030 shares, compared to its average volume of 152,823. The business has a 50-day simple moving average of $282.86 and a 200 day simple moving average of $257.28. The stock has a market cap of $10.00 billion, a PE ratio of 22.77 and a beta of 1.08. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.28 earnings per share. As a group, equities analysts predict that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.20%. Primerica's payout ratio is presently 27.50%.

Primerica declared that its board has initiated a share repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

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.