US Bancorp DE Has $182,000 Position in Primerica, Inc. (NYSE:PRI)

US Bancorp DE cut its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 84.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 686 shares of the financial services provider's stock after selling 3,668 shares during the period. US Bancorp DE's holdings in Primerica were worth $182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its holdings in Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock worth $161,102,000 after acquiring an additional 678,752 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider's stock worth $23,601,000 after acquiring an additional 39,761 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Primerica by 2,986.9% in the 2nd quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider's stock worth $7,595,000 after acquiring an additional 31,064 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Primerica during the second quarter valued at about $71,000. Finally, International Assets Investment Management LLC increased its position in shares of Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider's stock worth $6,679,000 after acquiring an additional 25,182 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PRI shares. Jefferies Financial Group boosted their target price on shares of Primerica from $239.00 to $249.00 and gave the company a "hold" rating in a research note on Thursday, July 18th. Morgan Stanley increased their price objective on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a report on Monday, August 19th. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They set a "neutral" rating and a $283.00 price target on the stock. TD Cowen began coverage on Primerica in a research report on Wednesday, October 9th. They issued a "buy" rating and a $314.00 price target for the company. Finally, Truist Financial lifted their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $288.33.

Primerica Trading Up 0.5 %

Shares of Primerica stock traded up $1.59 during mid-day trading on Friday, reaching $298.41. 98,132 shares of the stock were exchanged, compared to its average volume of 154,471. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 22.74 and a beta of 1.08. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $304.84. The firm has a 50-day simple moving average of $272.79 and a 200 day simple moving average of $250.55.

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

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 21st. Primerica's dividend payout ratio is presently 27.50%.

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

Insider Transactions at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 12.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now owns 15,151 shares of the company's stock, valued at $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock worth $1,803,175. Corporate insiders own 0.85% of the company's stock.

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.