GAMMA Investing LLC Buys 146 Shares of Primerica, Inc. (NYSE:PRI)

GAMMA Investing LLC grew its stake in shares of Primerica, Inc. (NYSE:PRI) by 14.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,128 shares of the financial services provider’s stock after purchasing an additional 146 shares during the period. GAMMA Investing LLC’s holdings in Primerica were worth $306,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of Primerica by 26.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 3,540 shares of the financial services provider’s stock worth $838,000 after acquiring an additional 743 shares during the period. Arizona State Retirement System grew its stake in Primerica by 1.3% in the second quarter. Arizona State Retirement System now owns 9,755 shares of the financial services provider’s stock worth $2,308,000 after purchasing an additional 127 shares during the period. Strategic Financial Concepts LLC bought a new position in Primerica in the second quarter worth $71,000. Quest Partners LLC purchased a new position in Primerica during the second quarter valued at $412,000. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Primerica by 39.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 42,864 shares of the financial services provider’s stock valued at $10,141,000 after buying an additional 12,203 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRI. TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Monday. Piper Sandler lowered their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Finally, Truist Financial upped 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $296.33.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.85% of the company’s stock.

Primerica Stock Down 0.4 %

Shares of PRI opened at $275.37 on Tuesday. The company has a market capitalization of $9.19 billion, a P/E ratio of 21.04 and a beta of 1.11. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The firm has a 50 day moving average of $286.27 and a 200 day moving average of $266.62.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $745.25 million. During the same quarter in the previous year, the business earned $4.28 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, November 21st. Primerica’s payout ratio is presently 27.50%.

Primerica declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.