Geode Capital Management LLC Has $184.81 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Geode Capital Management LLC lifted its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 696,839 shares of the financial services provider's stock after buying an additional 25,951 shares during the period. Geode Capital Management LLC owned approximately 2.09% of Primerica worth $184,807,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PRI. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Primerica in the 3rd quarter valued at about $3,710,000. BNP Paribas Financial Markets increased its stake in Primerica by 320.6% in 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. acquired a new stake in shares of Primerica during the third quarter worth about $646,000. Susquehanna Fundamental Investments LLC acquired a new position in Primerica in the 2nd quarter valued at about $3,514,000. Finally, Quantinno Capital Management LP raised its stake in Primerica by 66.9% during the 3rd quarter. Quantinno Capital Management LP now owns 5,150 shares of the financial services provider's stock valued at $1,366,000 after acquiring an additional 2,065 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Analysts Set New Price Targets

PRI has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Morgan Stanley lifted their price target on Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a research note on Monday, August 19th. Piper Sandler assumed coverage on Primerica in a research report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price objective for the company. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, TD Cowen increased 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.50.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Primerica Trading Down 0.2 %

Shares of PRI traded down $0.63 during mid-day trading on Monday, reaching $280.53. The company had a trading volume of 209,306 shares, compared to its average volume of 152,718. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 21.39 and a beta of 1.09. The firm has a fifty day simple moving average of $287.74 and a 200-day simple moving average of $261.78. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) 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 in the prior year, the business earned $4.28 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.28%. Primerica's dividend payout ratio (DPR) is presently 27.50%.

Primerica declared that its Board of Directors has approved a share buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.