Mirabella Financial Services LLP Buys 7,217 Shares of Primerica, Inc. $PRI

Mirabella Financial Services LLP grew its position in Primerica, Inc. (NYSE:PRI) by 226.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,407 shares of the financial services provider’s stock after buying an additional 7,217 shares during the period. Mirabella Financial Services LLP’s holdings in Primerica were worth $2,883,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PRI. Root Financial Partners LLC bought a new position in shares of Primerica during the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its stake in Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. Quent Capital LLC purchased a new position in Primerica in the third quarter worth $33,000. Hantz Financial Services Inc. grew its holdings in Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 186 shares during the last quarter. Finally, MAI Capital Management increased its position in shares of Primerica by 160.9% during the second quarter. MAI Capital Management now owns 227 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen reiterated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Morgan Stanley reduced their target price on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Primerica has an average rating of “Hold” and an average target price of $298.60.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares in the company, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica 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 of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.61% of the company’s stock.

Primerica Trading Down 1.6%

NYSE:PRI opened at $248.60 on Thursday. Primerica, Inc. has a twelve month low of $230.09 and a twelve month high of $296.00. The company has a market cap of $7.87 billion, a PE ratio of 10.84 and a beta of 0.92. The company’s 50 day moving average is $259.28 and its two-hundred day moving average is $262.15.

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

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. Primerica’s payout ratio is currently 20.93%.

Primerica announced that its board has approved a share buyback program on Wednesday, November 19th that permits the company to buyback $475.00 million in shares. This buyback authorization permits the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Primerica Company 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.