Van ECK Associates Corp Has $6 Million Stock Position in Primerica, Inc. (NYSE:PRI)

Van ECK Associates Corp raised its position in shares of Primerica, Inc. (NYSE:PRI) by 40.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,646 shares of the financial services provider’s stock after purchasing an additional 6,185 shares during the quarter. Van ECK Associates Corp owned 0.06% of Primerica worth $5,998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. ORG Partners LLC bought a new stake in Primerica in the second quarter worth $30,000. V Square Quantitative Management LLC bought a new position in shares of Primerica during the 3rd quarter worth about $31,000. UMB Bank n.a. boosted its holdings in Primerica by 85.9% during the third 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 in the last quarter. Blue Trust Inc. raised its stake in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Primerica during the 2nd quarter worth about $71,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PRI shares. Morgan Stanley increased their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. TD Cowen began coverage on Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price for the company. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler assumed coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price target for the company. Finally, Keefe, Bruyette & Woods lifted their target price on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Primerica has an average rating of “Hold” and a consensus price target of $281.67.

Primerica Stock Down 0.1 %

NYSE:PRI opened at $290.65 on Friday. The company has a fifty day moving average of $268.94 and a 200-day moving average of $247.72. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $295.67. The firm has a market capitalization of $9.83 billion, a P/E ratio of 23.27 and a beta of 1.08.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating the consensus estimate of $4.47 by $0.24. The company had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.99 earnings per share. On average, analysts anticipate that Primerica, Inc. will post 18.13 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, November 21st. Primerica’s dividend payout ratio is currently 28.82%.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares in the company, valued at $2,678,727.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares of the company’s stock, valued at $11,446,071.10. 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 90 days, insiders sold 6,500 shares of company stock valued at $1,657,015. 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.