Barclays PLC Increases Holdings in Primerica, Inc. (NYSE:PRI)

Barclays PLC lifted its position in Primerica, Inc. (NYSE:PRI - Free Report) by 108.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,471 shares of the financial services provider's stock after buying an additional 10,635 shares during the period. Barclays PLC owned about 0.06% of Primerica worth $5,428,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Primerica during the 3rd quarter valued at about $3,710,000. BNP Paribas Financial Markets lifted its position in Primerica by 320.6% during the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider's stock valued at $1,525,000 after purchasing an additional 4,383 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Primerica during the third quarter valued at approximately $646,000. Quantinno Capital Management LP grew its position in Primerica by 66.9% in the 3rd quarter. Quantinno Capital Management LP now owns 5,150 shares of the financial services provider's stock worth $1,366,000 after purchasing an additional 2,065 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Primerica during the 2nd quarter valued at $3,514,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the business'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 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 hyperlink. 0.85% of the stock is currently owned by company insiders.

Primerica Price Performance

Shares of NYSE:PRI traded up $4.66 during mid-day trading on Friday, reaching $271.50. 860,779 shares of the company traded hands, compared to its average volume of 156,831. The company's 50 day moving average price is $287.63 and its 200-day moving average price is $263.18. The firm has a market cap of $9.06 billion, a PE ratio of 20.74 and a beta of 1.09. 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 announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. During the same period in the prior 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. On average, research analysts predict that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

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

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, November 21st. Primerica's dividend payout ratio (DPR) is 27.50%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRI. TD Cowen lifted their price objective on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Finally, Piper Sandler cut their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $296.33.

About Primerica

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.