HBW Advisory Services LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

HBW Advisory Services LLC acquired a new stake in Primerica, Inc. (NYSE:PRI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 866 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other large investors have also modified their holdings of the company. Van ECK Associates Corp raised its position in Primerica by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 12,506 shares of the financial services provider’s stock valued at $3,164,000 after purchasing an additional 3,345 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Primerica by 24.5% in the first quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after buying an additional 2,393 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Primerica by 456.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after buying an additional 7,506 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Primerica by 136.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,322 shares of the financial services provider’s stock worth $1,599,000 after buying an additional 3,649 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Primerica during the first quarter worth about $979,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on PRI shares. Keefe, Bruyette & Woods upped their price objective on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial lifted their price objective on shares of Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Piper Sandler assumed coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Primerica presently has an average rating of “Hold” and an average target price of $275.20.

Primerica Stock Up 2.2 %

Shares of NYSE PRI opened at $274.24 on Friday. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 16.69 and a beta of 1.09. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $274.52. The firm has a 50-day moving average price of $257.54 and a 200 day moving average price of $241.29.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping the consensus estimate of $4.47 by $0.24. Primerica had a return on equity of 27.81% and a net margin of 14.85%. The business had revenue of $803.38 million for the quarter, compared to analyst estimates of $748.88 million. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.99 EPS. Equities research analysts expect that Primerica, Inc. will post 18.03 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were given a $0.90 dividend. The ex-dividend date was Wednesday, August 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 1.31%. Primerica’s payout ratio is currently 21.91%.

Insider Activity at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following 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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the 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 owns 10,259 shares in the company, valued at approximately $2,678,727.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,500 shares of company stock valued at $1,657,015. 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.