Wealth Enhancement Advisory Services LLC Has $1.95 Million Position in Primerica, Inc. $PRI

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Primerica, Inc. (NYSE:PRI) by 76.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,149 shares of the financial services provider’s stock after buying an additional 3,100 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Primerica were worth $1,951,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in Primerica in the 2nd quarter valued at $31,000. Quent Capital LLC bought a new position in Primerica during the third quarter worth about $33,000. Cullen Frost Bankers Inc. bought a new stake in Primerica in the 2nd quarter valued at about $33,000. First Horizon Advisors Inc. increased its holdings in shares of Primerica by 1,714.3% during the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Finally, MAI Capital Management boosted its stake in shares of Primerica by 160.9% in the second quarter. MAI Capital Management now owns 227 shares of the financial services provider’s stock valued at $62,000 after buying an additional 140 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Up 0.3%

Shares of NYSE:PRI opened at $262.81 on Friday. The business has a fifty day simple moving average of $259.35 and a 200 day simple moving average of $263.74. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $298.75. The firm has a market cap of $8.39 billion, a P/E ratio of 12.08 and a beta of 0.90.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.52 by $0.81. The company had revenue of $838.88 million for the quarter, compared to analyst estimates of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.83 earnings per share. As a group, equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, November 21st. Primerica’s dividend payout ratio (DPR) is currently 19.12%.

Primerica declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 19th that authorizes the company to buyback $475.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 5.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have commented on PRI. Piper Sandler set a $292.00 target price on shares of Primerica and gave the company a “neutral” rating in a report on Tuesday, October 7th. Morgan Stanley set a $292.00 target price on shares of Primerica in a report on Monday, December 15th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday. Zacks Research upgraded shares of Primerica from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings downgraded shares of Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Primerica currently has a consensus rating of “Moderate Buy” and an average price target of $300.00.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total transaction of $649,125.00. Following the sale, the chief executive officer owned 33,892 shares in the company, valued at $8,800,057.80. This represents a 6.87% 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 2,000 shares of Primerica stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total value of $510,600.00. Following the completion of the sale, the president owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. The trade was a 21.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,200 shares of company stock valued at $1,338,225. 0.61% of the stock is currently owned by insiders.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.