Atria Investments Inc Buys 662 Shares of Primerica, Inc. (NYSE:PRI)

Atria Investments Inc boosted its position in Primerica, Inc. (NYSE:PRI) by 8.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,950 shares of the financial services provider’s stock after purchasing an additional 662 shares during the quarter. Atria Investments Inc’s holdings in Primerica were worth $2,373,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Primerica during the 3rd quarter worth approximately $31,000. ORG Partners LLC acquired a new position in shares of Primerica during the second quarter worth $30,000. UMB Bank n.a. boosted its position in shares of Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Blue Trust Inc. boosted its position 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 worth $49,000 after purchasing an additional 60 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Primerica during the 3rd quarter worth $115,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Price Performance

NYSE PRI opened at $296.82 on Friday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $304.84. The company has a market capitalization of $9.90 billion, a PE ratio of 22.68 and a beta of 1.08. The company has a fifty day moving average of $272.02 and a 200 day moving average of $250.23.

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

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. Primerica’s payout ratio is 27.50%.

Primerica declared that its board has authorized a share buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes 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 board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRI. Jefferies Financial Group boosted their price target on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Piper Sandler began coverage on shares of Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Truist Financial raised their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, TD Cowen initiated coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price target for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $288.33.

Insider Activity

In related 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 value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. This represents a 12.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,803,175 in the last three months. 0.85% of the stock is currently owned by corporate 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.