Strategic Financial Concepts LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Strategic Financial Concepts LLC purchased a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,299 shares of the financial services provider's stock, valued at approximately $8,767,000. Strategic Financial Concepts LLC owned about 0.10% of Primerica as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PRI. CWM LLC lifted its holdings in Primerica by 3.0% in the third quarter. CWM LLC now owns 2,922 shares of the financial services provider's stock worth $775,000 after acquiring an additional 84 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Primerica during the 3rd quarter worth approximately $758,000. Creative Planning lifted its holdings in shares of Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider's stock worth $1,613,000 after purchasing an additional 40 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Primerica during the 3rd quarter valued at approximately $31,000. Finally, Blue Trust Inc. grew its stake in Primerica by 247.4% during the 3rd quarter. Blue Trust Inc. now owns 667 shares of the financial services provider's stock worth $177,000 after buying an additional 475 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Price Performance

Primerica stock traded down $1.67 during mid-day trading on Wednesday, hitting $280.59. The company's stock had a trading volume of 110,248 shares, compared to its average volume of 141,527. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The company has a market cap of $9.36 billion, a PE ratio of 20.41 and a beta of 1.11. The firm's 50 day moving average is $282.03 and its 200 day moving average is $276.56.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping 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, analysts forecast that Primerica, Inc. will post 20.53 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is 26.18%.

Primerica announced that its board has initiated a share buyback plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on PRI. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target on the stock. Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Primerica from $308.00 to $313.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $311.14.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently 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.