Quest Partners LLC Purchases 12,713 Shares of Primerica, Inc. (NYSE:PRI)

Quest Partners LLC lifted its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 730.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,453 shares of the financial services provider's stock after purchasing an additional 12,713 shares during the quarter. Primerica makes up about 0.3% of Quest Partners LLC's investment portfolio, making the stock its 16th largest position. Quest Partners LLC's holdings in Primerica were worth $3,832,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PRI. Blair William & Co. IL raised its holdings in shares of Primerica by 24.5% in the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider's stock worth $3,076,000 after buying an additional 2,393 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Primerica by 9.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,059 shares of the financial services provider's stock valued at $1,275,000 after purchasing an additional 449 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Primerica in the 1st quarter worth about $979,000. Cynosure Group LLC acquired a new stake in shares of Primerica during the 1st quarter worth about $314,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Primerica by 10.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,566 shares of the financial services provider's stock valued at $1,408,000 after purchasing an additional 547 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Thursday. Piper Sandler started coverage on shares of Primerica in a research report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price objective for the company. TD Cowen started coverage on Primerica in a research report on Wednesday, October 9th. They set a "buy" rating and a $314.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $288.33.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company's stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now owns 10,259 shares of the company's stock, valued at $2,678,727.49. This trade represents a 12.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $1,803,175 over the last ninety days. 0.85% of the stock is owned by company insiders.

Primerica Trading Up 0.7 %

Shares of Primerica stock traded up $2.15 during trading on Monday, hitting $300.76. 93,403 shares of the stock were exchanged, compared to its average volume of 154,197. The company has a fifty day moving average price of $273.65 and a 200-day moving average price of $251.66. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 22.81 and a beta of 1.08. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $304.84.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to analysts' expectations of $745.25 million. During the same quarter in the previous year, the company posted $4.28 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Primerica, Inc. will post 19.12 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.20%. Primerica's payout ratio is 27.50%.

Primerica announced that its board has approved 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership 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.