Callan Family Office LLC Increases Stake in Primerica, Inc. (NYSE:PRI)

Callan Family Office LLC increased its position in Primerica, Inc. (NYSE:PRI - Free Report) by 273.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,024 shares of the financial services provider's stock after purchasing an additional 3,680 shares during the period. Callan Family Office LLC's holdings in Primerica were worth $1,364,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock worth $184,807,000 after buying an additional 25,951 shares during the period. Raymond James Financial Inc. purchased a new stake in Primerica in the fourth quarter worth about $34,191,000. Los Angeles Capital Management LLC grew its holdings in Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock worth $32,573,000 after purchasing an additional 11,612 shares during the period. Prospector Partners LLC increased its stake in shares of Primerica by 0.3% during the third quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider's stock valued at $20,431,000 after purchasing an additional 210 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Primerica by 0.5% during the third quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider's stock valued at $16,965,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley lowered their price objective on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Finally, Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Primerica presently has a consensus rating of "Hold" and an average target price of $309.86.

Primerica Trading Up 0.1 %

PRI traded up $0.28 on Monday, hitting $281.31. 24,789 shares of the company's stock traded hands, compared to its average volume of 139,694. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The company's 50 day simple moving average is $283.93 and its 200-day simple moving average is $279.17. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 20.49 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. 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%. Primerica's dividend payout ratio is presently 30.25%.

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

Insider Buying and Selling at Primerica

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last quarter. 0.85% of the stock is owned by corporate insiders.

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.