Geode Capital Management LLC boosted its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 696,839 shares of the financial services provider's stock after buying an additional 25,951 shares during the period. Geode Capital Management LLC owned approximately 2.09% of Primerica worth $184,807,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. CIBC Asset Management Inc increased its position 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 valued at $279,000 after acquiring an additional 36 shares during the last quarter. Creative Planning boosted its position in shares of Primerica by 0.7% during the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider's stock worth $1,613,000 after purchasing an additional 40 shares during the period. Kingsview Wealth Management LLC increased 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 valued at $1,549,000 after purchasing an additional 43 shares during the last quarter. Larson Financial Group LLC raised its position in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 54 shares during the period. Finally, Blue Trust Inc. lifted its stake in Primerica by 45.5% during the second 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. Institutional investors and hedge funds own 90.88% of the company's stock.
In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares of the company's stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is owned by company insiders.
NYSE PRI opened at $281.16 on Monday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The firm has a 50 day moving average of $287.74 and a two-hundred day moving average of $261.50. The stock has a market capitalization of $9.38 billion, a PE ratio of 21.48 and a beta of 1.09.
Primerica (NYSE:PRI - Get Free Report) last issued its 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 net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the firm posted $4.28 earnings per share. The company's revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.
Primerica declared that its board has approved a share buyback plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica's dividend payout ratio (DPR) is presently 27.50%.
Several research firms recently issued reports on PRI. Morgan Stanley boosted their price objective on Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a report on Monday, August 19th. 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 report on Tuesday, November 26th. Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a report on Friday, November 8th. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Finally, Piper Sandler assumed coverage on shares of Primerica in a research report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price target for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Primerica presently has an average rating of "Hold" and a consensus target price of $293.50.
Get Our Latest Report on Primerica
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.
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