Strategic Financial Concepts LLC bought a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Primerica in the third quarter valued at about $31,000. Prospera Private Wealth LLC bought a new position in Primerica in the third quarter valued at about $31,000. UMB Bank n.a. grew its position in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 67 shares during the last quarter. Larson Financial Group LLC grew its position in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider's stock worth $93,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 90.88% of the company's stock.
Primerica Stock Down 4.0 %
PRI traded down $11.49 during trading on Wednesday, hitting $278.65. The company's stock had a trading volume of 251,359 shares, compared to its average volume of 142,416. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The stock's fifty day moving average price is $283.06 and its 200-day moving average price is $275.43. The firm has a market capitalization of $9.30 billion, a P/E ratio of 21.29 and a beta of 1.11.
Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. Equities research analysts expect that Primerica, Inc. will post 19.79 EPS for the current fiscal year.
Primerica declared that its Board of Directors has authorized a share repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.
Primerica Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.49%. This is a positive change from Primerica's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. Primerica's dividend payout ratio is presently 27.50%.
Analysts Set New Price Targets
Several analysts have recently weighed in on PRI shares. TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. Piper Sandler reduced their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Primerica has a consensus rating of "Hold" and an average price target of $304.14.
Check Out Our Latest Stock Report on Primerica
About Primerica
(
Free Report)
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.
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