Oak Thistle LLC Increases Holdings in Primerica, Inc. (NYSE:PRI)

Oak Thistle LLC boosted its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 64.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,936 shares of the financial services provider's stock after buying an additional 1,943 shares during the quarter. Oak Thistle LLC's holdings in Primerica were worth $1,340,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Primerica by 30,726.7% during the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock valued at $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Primerica by 2,986.9% during the 2nd quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider's stock worth $7,595,000 after buying an additional 31,064 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock worth $184,807,000 after buying an additional 25,951 shares during the period. International Assets Investment Management LLC increased its stake in shares of Primerica by 359,742.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider's stock valued at $6,679,000 after acquiring an additional 25,182 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider's stock valued at $150,880,000 after acquiring an additional 21,836 shares during the period. Institutional investors own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PRI shares. Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a report on Tuesday. Truist Financial upped their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods cut their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $303.00.

Primerica Stock Up 0.2 %

PRI stock traded up $0.58 during midday trading on Wednesday, hitting $283.14. The company's stock had a trading volume of 123,286 shares, compared to its average volume of 147,965. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 21.63 and a beta of 1.11. The stock's 50-day moving average price is $286.23 and its 200 day moving average price is $268.58. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

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

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.27%. The ex-dividend date was Thursday, November 21st. Primerica's dividend payout ratio (DPR) is 27.50%.

Primerica announced that its board has initiated a stock repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, November 11th. The stock was 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 owns 36,322 shares of the company's stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% 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.