Oak Thistle LLC Increases Position in Primerica, Inc. (NYSE:PRI)

Oak Thistle LLC boosted its position in Primerica, Inc. (NYSE:PRI) by 64.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,936 shares of the financial services provider’s stock after acquiring an additional 1,943 shares during the period. Oak Thistle LLC’s holdings in Primerica were worth $1,340,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Primerica in the third quarter valued at $31,000. Prospera Private Wealth LLC acquired a new stake in Primerica in the 3rd quarter worth about $31,000. UMB Bank n.a. grew its holdings in Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the period. Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 302 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Primerica

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

Primerica Price Performance

Shares of PRI opened at $282.06 on Wednesday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock’s 50-day moving average is $286.23 and its two-hundred day moving average is $268.58. The stock has a market cap of $9.41 billion, a PE ratio of 21.55 and a beta of 1.11.

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

Primerica declared that its board has approved a stock buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Primerica Announces Dividend

The company also recently announced 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 was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.28%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen upped 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. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Truist Financial boosted their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $303.00.

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.