National Bank of Canada FI Decreases Stock Holdings in Primerica, Inc. (NYSE:PRI)

National Bank of Canada FI lowered its position in shares of Primerica, Inc. (NYSE:PRI) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 177 shares of the financial services provider’s stock after selling 84 shares during the period. National Bank of Canada FI’s holdings in Primerica were worth $47,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in shares of Primerica by 3.5% during the third 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 raised its position in Primerica by 0.7% during the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after purchasing an additional 40 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after buying an additional 43 shares during the period. Larson Financial Group LLC grew its position in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Primerica by 45.5% during the second 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 period. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on PRI shares. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Primerica currently has an average rating of “Hold” and an average target price of $293.50.

Primerica Price Performance

Shares of NYSE PRI opened at $275.90 on Wednesday. The stock has a market cap of $9.21 billion, a P/E ratio of 21.08 and a beta of 1.09. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The firm has a 50-day moving average of $288.12 and a 200 day moving average of $262.53.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS 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 firm had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the previous year, the firm posted $4.28 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts expect that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

Primerica announced that its board has approved a share buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is presently 27.50%.

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.