Marks Group Wealth Management Inc Trims Stake in Primerica, Inc. (NYSE:PRI)

Marks Group Wealth Management Inc reduced its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,360 shares of the financial services provider's stock after selling 1,656 shares during the quarter. Marks Group Wealth Management Inc owned about 0.10% of Primerica worth $9,055,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Primerica in the third quarter worth approximately $31,000. Prospera Private Wealth LLC bought a new position in Primerica during the third quarter valued at $31,000. Golden State Wealth Management LLC bought a new position in shares of Primerica in the fourth quarter worth $33,000. UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock worth $38,000 after acquiring an additional 67 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after acquiring an additional 54 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRI has been the subject of a number of analyst reports. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Morgan Stanley raised their price target on Primerica from $308.00 to $313.00 and gave the stock an "equal weight" rating in a report on Friday. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Primerica currently has a consensus rating of "Hold" and an average price target of $310.43.

Primerica Trading Down 1.0 %

Primerica stock traded down $2.85 during trading hours on Friday, hitting $281.29. 134,291 shares of the stock traded hands, compared to its average volume of 125,765. The firm's 50-day moving average price is $282.45 and its two-hundred day moving average price is $275.52. The company has a market cap of $9.39 billion, a PE ratio of 21.49 and a beta of 1.11. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, sell-side analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, February 21st. Primerica's payout ratio is presently 27.50%.

Primerica announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

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.