Charles Schwab Investment Management Inc. Has $88.17 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Primerica, Inc. (NYSE:PRI) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 332,520 shares of the financial services provider’s stock after selling 2,367 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Primerica were worth $88,168,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Burgundy Asset Management Ltd. lifted its position in Primerica by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider’s stock worth $292,688,000 after purchasing an additional 17,095 shares during the period. Millennium Management LLC raised its position in shares of Primerica by 30,726.7% in the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after buying an additional 678,752 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Primerica by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider’s stock worth $150,880,000 after acquiring an additional 21,836 shares during the period. Raymond James & Associates boosted its position in shares of Primerica by 4.6% during the 3rd quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider’s stock worth $32,176,000 after acquiring an additional 5,323 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Primerica by 8.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 108,399 shares of the financial services provider’s stock worth $28,742,000 after acquiring an additional 8,641 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total value of $507,700.00. Following the completion of the sale, the director now owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 11.66 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on PRI. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler began coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $293.50.

Primerica Trading Down 0.1 %

Primerica stock opened at $304.55 on Thursday. The stock has a 50-day moving average price of $281.05 and a two-hundred day moving average price of $255.94. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The company has a market capitalization of $10.16 billion, a PE ratio of 23.27 and a beta of 1.08.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter last year, the business earned $4.28 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts predict that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

Primerica announced that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Primerica Dividend Announcement

The firm 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 dividend of $0.90 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.18%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Primerica Company 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.