KBC Group NV Acquires 454 Shares of Primerica, Inc. (NYSE:PRI)

KBC Group NV lifted its holdings in Primerica, Inc. (NYSE:PRI) by 51.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,329 shares of the financial services provider’s stock after acquiring an additional 454 shares during the period. KBC Group NV’s holdings in Primerica were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 36 shares during the period. Creative Planning boosted its position in shares of Primerica by 0.7% during the third quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after acquiring an additional 40 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Primerica by 0.7% during the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after acquiring an additional 43 shares in the last quarter. Larson Financial Group LLC increased its holdings in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

Primerica Trading Down 0.4 %

Primerica stock opened at $290.14 on Monday. The firm has a market capitalization of $9.68 billion, a PE ratio of 22.16 and a beta of 1.11. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a 50-day moving average price of $284.35 and a 200-day moving average price of $273.12.

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

Primerica announced that its Board of Directors has authorized a stock buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Primerica Dividend Announcement

The firm also recently announced 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 of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.24%. Primerica’s dividend payout ratio (DPR) is 27.50%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several research reports. Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, 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. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.