Fifth Third Bancorp Has $436,000 Holdings in Primerica, Inc. (NYSE:PRI)

Fifth Third Bancorp trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,605 shares of the financial services provider’s stock after selling 291 shares during the period. Fifth Third Bancorp’s holdings in Primerica were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its position in shares of Primerica by 3.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,959 shares of the financial services provider’s stock valued at $803,000 after purchasing an additional 100 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Primerica by 10.8% in the fourth quarter. Mutual Advisors LLC now owns 1,394 shares of the financial services provider’s stock valued at $402,000 after buying an additional 136 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Primerica by 53.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 7,178 shares of the financial services provider’s stock worth $1,948,000 after acquiring an additional 2,498 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Primerica by 10.9% during the fourth quarter. Ballentine Partners LLC now owns 899 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 88 shares during the period. Finally, UMB Bank n.a. lifted its position in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 95 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated 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 sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Primerica Trading Down 0.3 %

Shares of PRI opened at $290.97 on Friday. The company’s fifty day simple moving average is $284.72 and its 200 day simple moving average is $272.53. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 22.23 and a beta of 1.11.

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

Primerica announced that its Board of Directors has initiated a share 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 buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Primerica Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on PRI. BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Piper Sandler lowered their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Finally, TD Cowen increased their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.