Victory Capital Management Inc. Sells 10,190 Shares of Primerica, Inc. (NYSE:PRI)

Victory Capital Management Inc. reduced its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 20.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,742 shares of the financial services provider's stock after selling 10,190 shares during the period. Victory Capital Management Inc. owned 0.12% of Primerica worth $10,538,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in Primerica in the 2nd quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in shares of Primerica in the 3rd quarter worth $31,000. UMB Bank n.a. grew its position in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 67 shares during the period. Blue Trust Inc. grew its position in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in Primerica during the 2nd quarter valued at $71,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 1,500 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now directly owns 10,259 shares of the company's stock, valued at approximately $2,678,727.49. This trade represents a 12.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were 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 directly owns 15,151 shares of the company's stock, valued at approximately $3,846,081.35. This trade represents a 11.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,500 shares of company stock worth $1,803,175. 0.85% of the stock is currently owned by corporate insiders.

Primerica Stock Performance

Shares of PRI stock opened at $294.65 on Thursday. The firm's 50-day simple moving average is $275.46 and its two-hundred day simple moving average is $252.80. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $304.84. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million for 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 firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.28 EPS. Analysts forecast that Primerica, Inc. will post 19.12 earnings per share for the current year.

Primerica declared that its Board of Directors has approved a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, November 21st. Primerica's dividend payout ratio (DPR) is currently 27.50%.

Analyst Ratings Changes

PRI has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research report on Monday, August 19th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a report on Thursday, November 14th. Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Piper Sandler initiated 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. Finally, TD Cowen began coverage on shares of Primerica in a research note on Wednesday, October 9th. They issued a "buy" rating and a $314.00 target price for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Primerica has a consensus rating of "Hold" and an average target price of $288.33.

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.