Blue Trust Inc. Purchases 298 Shares of Primerica, Inc. (NYSE:PRI)

Blue Trust Inc. boosted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 44.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 965 shares of the financial services provider’s stock after acquiring an additional 298 shares during the quarter. Blue Trust Inc.’s holdings in Primerica were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PRI. Geode Capital Management LLC raised its holdings in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after purchasing an additional 25,951 shares in the last quarter. Barclays PLC raised its holdings in Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares in the last quarter. Oak Thistle LLC lifted its position in shares of Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after buying an additional 1,943 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Primerica during the 3rd quarter worth about $3,710,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Primerica by 320.6% during the 3rd 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 during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRI has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Finally, Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Stock Performance

NYSE PRI opened at $290.14 on Monday. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 22.16 and a beta of 1.11. The business has a 50 day simple moving average of $284.35 and a 200 day simple moving average of $273.12. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data 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. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.28 earnings per share. On average, analysts predict that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.24%. Primerica’s dividend payout ratio is currently 27.50%.

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

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by corporate insiders.

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.