Meritage Portfolio Management Has $841,000 Position in Primerica, Inc. (NYSE:PRI)

Meritage Portfolio Management lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,097 shares of the financial services provider’s stock after purchasing an additional 210 shares during the period. Meritage Portfolio Management’s holdings in Primerica were worth $841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRI. Creative Planning grew its holdings in Primerica by 2.8% during the 2nd quarter. Creative Planning now owns 6,043 shares of the financial services provider’s stock worth $1,430,000 after acquiring an additional 167 shares during the last quarter. Truist Financial Corp lifted its position in shares of Primerica by 8.5% during the second quarter. Truist Financial Corp now owns 8,004 shares of the financial services provider’s stock worth $1,894,000 after purchasing an additional 630 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Primerica during the second quarter valued at approximately $1,098,000. GAMMA Investing LLC increased its holdings in shares of Primerica by 40.1% in the third quarter. GAMMA Investing LLC now owns 982 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 281 shares in the last quarter. Finally, Callan Family Office LLC raised its position in Primerica by 20.0% in the 3rd quarter. Callan Family Office LLC now owns 1,344 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 224 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PRI shares. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Truist Financial boosted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus target price of $304.14.

Primerica Price Performance

Primerica stock opened at $295.89 on Thursday. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 22.60 and a beta of 1.11. The firm has a 50-day moving average of $283.83 and a 200-day moving average of $273.86. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.28 earnings per share. As a group, sell-side analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica declared that its Board of Directors has authorized a share repurchase program on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the 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 owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by company insiders.

Primerica Company 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.