Summit Trail Advisors LLC Grows Holdings in Primerica, Inc. (NYSE:PRI)

Summit Trail Advisors LLC raised its position in shares of Primerica, Inc. (NYSE:PRI) by 11.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,764 shares of the financial services provider’s stock after purchasing an additional 185 shares during the period. Summit Trail Advisors LLC’s holdings in Primerica were worth $479,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Primerica during the 3rd quarter valued at $31,000. Prospera Private Wealth LLC purchased a new stake in Primerica in the 3rd quarter worth $31,000. Golden State Wealth Management LLC bought a new stake in Primerica during the fourth quarter valued at about $33,000. UMB Bank n.a. lifted its position in shares of Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PRI shares. Keefe, Bruyette & Woods decreased their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. TD Cowen upped their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets assumed coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Stock Down 0.8 %

Shares of NYSE:PRI opened at $290.74 on Wednesday. The firm has a fifty day simple moving average of $283.22 and a two-hundred day simple moving average of $275.15. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a market capitalization of $9.70 billion, a P/E ratio of 22.21 and a beta of 1.11.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica announced that its board has authorized a stock buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.