Vanguard Group Inc. Has $937.75 Million Stock Position in Primerica, Inc. $PRI

Vanguard Group Inc. lessened its holdings in Primerica, Inc. (NYSE:PRI) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,378,192 shares of the financial services provider’s stock after selling 82,876 shares during the period. Vanguard Group Inc. owned about 10.43% of Primerica worth $937,752,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its holdings in Primerica by 20.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 366 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Primerica by 27.7% during the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after buying an additional 28,129 shares in the last quarter. Empowered Funds LLC bought a new stake in Primerica during the first quarter worth $1,763,000. Focus Partners Wealth raised its position in Primerica by 17.5% in the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after buying an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Primerica by 205.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley set a $292.00 target price on shares of Primerica in a research note on Monday, December 15th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Keefe, Bruyette & Woods decreased their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $300.00.

Primerica Stock Performance

Shares of PRI stock opened at $260.73 on Monday. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 11.37 and a beta of 0.91. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $296.00. The firm’s 50-day simple moving average is $261.08 and its two-hundred day simple moving average is $263.37.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.44. The company had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. Primerica’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.03 EPS. Analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be paid a $1.20 dividend. The ex-dividend date is Monday, February 23rd. This is a boost from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Primerica’s dividend payout ratio is presently 18.14%.

Primerica announced that its Board of Directors has approved a share buyback plan on Wednesday, November 19th that allows the company to buyback $475.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares in the company, valued at approximately $7,023,582.72. The trade was a 8.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the sale, the director directly owned 8,400 shares in the company, valued at approximately $2,142,000. This trade represents a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Primerica Profile

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.