Janus Henderson Group PLC Has $4.15 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Janus Henderson Group PLC decreased its stake in shares of Primerica, Inc. (NYSE:PRI) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,629 shares of the financial services provider’s stock after selling 1,300 shares during the period. Janus Henderson Group PLC’s holdings in Primerica were worth $4,147,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in shares of Primerica by 30,726.7% during the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock worth $161,102,000 after purchasing an additional 678,752 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Primerica by 66.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider’s stock valued at $23,601,000 after buying an additional 39,761 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Primerica by 2,986.9% in the 2nd quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after buying an additional 31,064 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Primerica during the second quarter worth $71,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Primerica by 359,742.9% during the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after acquiring an additional 25,182 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 2.1 %

Shares of Primerica stock opened at $281.17 on Wednesday. The stock’s fifty day simple moving average is $286.95 and its 200 day simple moving average is $260.54. The company has a market capitalization of $9.38 billion, a PE ratio of 21.48 and a beta of 1.09. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter last year, the firm posted $4.28 earnings per share. Primerica’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica declared that its board has authorized a stock repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PRI shares. Morgan Stanley boosted their price objective on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. 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. Piper Sandler started coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Finally, TD Cowen upped their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $293.50.

Insider Transactions at Primerica

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. 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.