DAVENPORT & Co LLC Sells 216 Shares of Primerica, Inc. (NYSE:PRI)

DAVENPORT & Co LLC lessened its stake in Primerica, Inc. (NYSE:PRI) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,229 shares of the financial services provider’s stock after selling 216 shares during the period. DAVENPORT & Co LLC’s holdings in Primerica were worth $2,505,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PRI. Geode Capital Management LLC raised its position in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the last quarter. International Assets Investment Management LLC raised its position in Primerica by 359,742.9% in the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock worth $6,679,000 after purchasing an additional 25,182 shares during the last quarter. Artemis Investment Management LLP bought a new position in Primerica in the 4th quarter worth approximately $5,236,000. Edgestream Partners L.P. bought a new position in Primerica in the 3rd quarter worth approximately $5,073,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Primerica in the 3rd quarter worth approximately $3,710,000. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Primerica Stock Up 0.5 %

Shares of PRI stock opened at $291.65 on Wednesday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 22.28 and a beta of 1.11. The firm has a fifty day moving average of $284.09 and a 200-day moving average of $273.55.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.28 EPS. Research analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current year.

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.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Truist Financial upped their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen upped their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $304.14.

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.