Janus Henderson Group PLC Sells 1,300 Shares of Primerica, Inc. (NYSE:PRI)

Janus Henderson Group PLC lowered its holdings in Primerica, Inc. (NYSE:PRI) by 7.7% in the third quarter, Holdings Channel reports. The firm owned 15,629 shares of the financial services provider’s stock after selling 1,300 shares during the quarter. Janus Henderson Group PLC’s holdings in Primerica were worth $4,147,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRI. SG Americas Securities LLC bought a new position in shares of Primerica in the 2nd quarter valued at about $893,000. ORG Partners LLC bought a new position in Primerica in the second quarter valued at approximately $30,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Primerica by 3.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,561 shares of the financial services provider’s stock worth $1,552,000 after purchasing an additional 239 shares during the last quarter. JLB & Associates Inc. raised its stake in shares of Primerica by 32.0% during the 2nd quarter. JLB & Associates Inc. now owns 12,971 shares of the financial services provider’s stock worth $3,069,000 after purchasing an additional 3,142 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after buying an additional 60 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PRI shares. Piper Sandler started coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. TD Cowen upped their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley lifted their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primerica presently has an average rating of “Hold” and an average price target of $293.50.

Primerica Trading Down 2.1 %

NYSE:PRI opened at $281.17 on Wednesday. The stock has a 50 day simple moving average of $286.95 and a 200 day simple moving average of $260.54. The stock has a market cap of $9.38 billion, a P/E ratio of 21.48 and a beta of 1.09. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter last year, the firm earned $4.28 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

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 outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was 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 directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

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.