Primerica, Inc. (NYSE:PRI) Stock Position Decreased by Algert Global LLC

Algert Global LLC reduced its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 37.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,068 shares of the financial services provider's stock after selling 6,750 shares during the quarter. Algert Global LLC's holdings in Primerica were worth $2,935,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock valued at $161,102,000 after acquiring an additional 678,752 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider's stock worth $23,601,000 after purchasing an additional 39,761 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Primerica by 2,986.9% in the 2nd quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider's stock valued at $7,595,000 after purchasing an additional 31,064 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Primerica in the second quarter worth about $71,000. Finally, International Assets Investment Management LLC increased its holdings in Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider's stock valued at $6,679,000 after buying an additional 25,182 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company's stock, 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. Company insiders own 0.61% of the company's stock.

Primerica Stock Down 0.1 %

PRI stock traded down $0.38 during trading on Wednesday, reaching $304.55. 75,968 shares of the company's stock were exchanged, compared to its average volume of 153,721. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The firm has a market cap of $10.16 billion, a PE ratio of 23.27 and a beta of 1.08. The company's fifty day moving average price is $281.05 and its 200-day moving average price is $255.94.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 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 company had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same period in the previous year, the firm earned $4.28 EPS. Primerica's revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

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

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.18%. Primerica's dividend payout ratio is currently 27.50%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRI. Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Piper Sandler initiated coverage on shares of Primerica in a report on Friday, August 30th. They issued a "neutral" rating and a $283.00 target price on the stock. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research report on Monday, August 19th. TD Cowen upped their price objective on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Primerica has a consensus rating of "Hold" and a consensus target price of $293.50.

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.