SVB Wealth LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

SVB Wealth LLC acquired a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 39,433 shares of the financial services provider's stock, valued at approximately $10,703,000. SVB Wealth LLC owned 0.12% of Primerica as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new stake in Primerica in the 3rd quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the fourth quarter worth about $33,000. Larson Financial Group LLC boosted its stake in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after buying an additional 54 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after buying an additional 115 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock worth $65,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company's stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PRI shares. Morgan Stanley lowered their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. Truist Financial upped their target price on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $309.86.

Primerica Stock Down 2.3 %

NYSE:PRI traded down $6.78 during mid-day trading on Tuesday, hitting $282.33. 93,402 shares of the stock traded hands, compared to its average volume of 141,179. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 20.55 and a beta of 1.11. The firm's 50 day moving average is $283.02 and its two-hundred day moving average is $278.50.

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

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

Primerica Increases Dividend

The firm 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 $1.04 dividend. This is a positive change from Primerica's previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. Primerica's dividend payout ratio (DPR) is presently 30.25%.

Primerica Company 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.