4,478 Shares in Primerica, Inc. (NYSE:PRI) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,478 shares of the financial services provider's stock, valued at approximately $1,187,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Primerica in the third quarter valued at $3,710,000. BNP Paribas Financial Markets boosted its holdings in Primerica by 320.6% in the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider's stock valued at $1,525,000 after acquiring an additional 4,383 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Primerica in the third quarter valued at $646,000. Susquehanna Fundamental Investments LLC bought a new stake in Primerica in the second quarter valued at $3,514,000. Finally, SG Americas Securities LLC bought a new stake in Primerica in the second quarter valued at $893,000. Institutional investors own 90.88% of the company's stock.

Primerica Stock Performance

Shares of PRI traded down $5.98 during trading hours on Tuesday, hitting $281.17. The company had a trading volume of 140,288 shares, compared to its average volume of 152,716. The firm has a fifty day moving average price of $286.95 and a 200-day moving average price of $260.54. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 21.48 and a beta of 1.09. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the previous year, the firm earned $4.28 EPS. Primerica's quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Primerica, Inc. will post 19.32 earnings per share for the current fiscal 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 $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica's dividend payout ratio (DPR) is 27.50%.

Primerica announced that its board has approved 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley raised their price objective on Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a research report on Monday, August 19th. StockNews.com raised Primerica from a "hold" rating to a "buy" rating in a research report on Friday, November 22nd. Piper Sandler assumed coverage on Primerica in a research report on Friday, August 30th. They set a "neutral" rating and a $283.00 price objective for the company. Truist Financial raised their price objective on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, TD Cowen raised their price objective on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $293.50.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

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.