Van ECK Associates Corp Raises Stock Position in Primerica, Inc. (NYSE:PRI)

Van ECK Associates Corp boosted its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 40.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 21,646 shares of the financial services provider's stock after buying an additional 6,185 shares during the period. Van ECK Associates Corp owned 0.06% of Primerica worth $5,998,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PRI. Creative Planning lifted its holdings in 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 in the last quarter. Blue Trust Inc. grew its holdings in Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock valued at $49,000 after buying an additional 60 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in shares of Primerica by 2.4% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider's stock valued at $625,000 after acquiring an additional 62 shares during the last quarter. SkyView Investment Advisors LLC increased its position in Primerica by 1.0% in the second quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider's stock worth $1,484,000 after purchasing an additional 62 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after buying an additional 67 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PRI shares. Piper Sandler began coverage on Primerica in a research report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price target for the company. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a report on Monday, August 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 17th. Jefferies Financial Group increased 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. Finally, TD Cowen initiated coverage on shares of Primerica in a research note on Wednesday, October 9th. They set a "buy" rating and a $314.00 price target for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Primerica currently has a consensus rating of "Hold" and an average target price of $288.33.

Primerica Trading Up 2.0 %

Shares of NYSE PRI traded up $5.90 during mid-day trading on Friday, reaching $296.55. The company had a trading volume of 62,637 shares, compared to its average volume of 154,620. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 22.65 and a beta of 1.08. The business's 50-day moving average is $268.94 and its 200-day moving average is $247.72. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $297.46.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to analysts' expectations of $748.88 million. Primerica had a return on equity of 30.28% and a net margin of 14.95%. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.99 EPS. As a group, equities research analysts forecast that Primerica, Inc. will post 18.13 earnings per share for the current year.

Primerica Announces Dividend

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

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares of the company's stock, valued at approximately $11,446,071.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the transaction, the chief executive officer now directly owns 45,322 shares in the company, valued at approximately $11,446,071.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock valued at $1,657,015 over the last 90 days. Corporate insiders own 0.85% of the company's stock.

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.