Primerica, Inc. (NYSE:PRI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,312 shares of the financial services provider's stock after selling 13,041 shares during the quarter. JPMorgan Chase & Co. owned 0.32% of Primerica worth $27,924,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in Primerica by 26.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,540 shares of the financial services provider's stock valued at $838,000 after acquiring an additional 743 shares during the period. Arizona State Retirement System raised its position in shares of Primerica by 1.3% in the second quarter. Arizona State Retirement System now owns 9,755 shares of the financial services provider's stock valued at $2,308,000 after purchasing an additional 127 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Primerica during the 2nd quarter valued at approximately $71,000. Quest Partners LLC bought a new position in Primerica in the 2nd quarter worth approximately $412,000. Finally, Texas Permanent School Fund Corp grew its stake in Primerica by 39.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 42,864 shares of the financial services provider's stock valued at $10,141,000 after buying an additional 12,203 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PRI. Piper Sandler lowered their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Truist Financial upped their price objective on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $296.33.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company'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 represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by company insiders.

Primerica Price Performance

Primerica stock traded up $2.36 during mid-day trading on Wednesday, reaching $278.33. 149,564 shares of the stock traded hands, compared to its average volume of 155,813. The stock has a market capitalization of $9.29 billion, a PE ratio of 21.26 and a beta of 1.11. The business's 50-day moving average is $286.20 and its 200-day moving average is $267.15. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted 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 business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.28 earnings per share. Equities analysts anticipate that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared 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 1.29%. The ex-dividend date was Thursday, November 21st. Primerica's dividend payout ratio is presently 27.50%.

Primerica declared that its board has initiated a share 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 purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Primerica Company 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.