Barclays PLC Buys 10,635 Shares of Primerica, Inc. (NYSE:PRI)

Barclays PLC increased its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 108.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 20,471 shares of the financial services provider's stock after purchasing an additional 10,635 shares during the period. Barclays PLC owned approximately 0.06% of Primerica worth $5,428,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Primerica in the 3rd quarter worth $31,000. Prospera Private Wealth LLC acquired a new stake in Primerica during the third quarter worth about $31,000. UMB Bank n.a. increased its stake 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 acquiring an additional 67 shares during the period. Larson Financial Group LLC raised its holdings in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock worth $49,000 after acquiring an additional 60 shares during the period. Institutional investors own 90.88% of the company's stock.

Primerica Trading Up 1.7 %

PRI stock traded up $4.66 during trading on Friday, hitting $271.50. 860,779 shares of the stock traded hands, compared to its average volume of 156,831. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 20.74 and a beta of 1.09. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The company has a 50 day simple moving average of $287.63 and a 200 day simple moving average of $262.91.

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

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica's payout ratio is presently 27.50%.

Primerica announced that its board has approved a share repurchase program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PRI shares. StockNews.com upgraded Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday. TD Cowen lifted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Truist Financial upped their target price 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Primerica has an average rating of "Hold" and a consensus target price of $296.33.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm's 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 transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.