Wilmington Savings Fund Society FSB Makes New $336,000 Investment in Primerica, Inc. (NYSE:PRI)

Wilmington Savings Fund Society FSB purchased a new stake in Primerica, Inc. (NYSE:PRI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,268 shares of the financial services provider’s stock, valued at approximately $336,000.

Several other hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC raised its position in Primerica by 21.3% in the third quarter. Sanctuary Advisors LLC now owns 5,632 shares of the financial services provider’s stock valued at $1,493,000 after purchasing an additional 990 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Primerica by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,408 shares of the financial services provider’s stock worth $1,699,000 after purchasing an additional 137 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Primerica by 52.7% in the third quarter. TD Private Client Wealth LLC now owns 365 shares of the financial services provider’s stock valued at $97,000 after buying an additional 126 shares during the period. Coldstream Capital Management Inc. raised its holdings in Primerica by 3.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,294 shares of the financial services provider’s stock valued at $611,000 after buying an additional 76 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.85% of the stock is owned by insiders.

Primerica Trading Down 0.2 %

PRI stock opened at $280.53 on Tuesday. The firm has a market cap of $9.36 billion, a PE ratio of 21.43 and a beta of 1.09. The stock has a 50-day moving average price of $287.74 and a 200-day moving average price of $261.78. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.28 earnings per share. On average, analysts forecast that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica announced that its Board of Directors has approved a share repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. Primerica’s dividend payout ratio is currently 27.50%.

Analyst Ratings Changes

Several brokerages have issued reports on PRI. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. TD Cowen raised their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler started coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Morgan Stanley increased their price target on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $293.50.

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.