Primerica, Inc. (NYSE:PRI) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Primerica, Inc. (NYSE:PRI) by 40.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 982 shares of the financial services provider’s stock after buying an additional 281 shares during the period. GAMMA Investing LLC’s holdings in Primerica were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRI. ORG Partners LLC acquired a new position in Primerica in the second quarter valued at about $30,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Primerica by 493.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 148 shares during the period. Blue Trust Inc. raised its stake in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Primerica in the 2nd quarter worth approximately $71,000. Finally, O Dell Group LLC purchased a new position in shares of Primerica during the 4th quarter worth approximately $153,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRI. Morgan Stanley boosted their target price on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Piper Sandler initiated coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Truist Financial increased their price target on shares of Primerica from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group lifted their price objective on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a report on Thursday, July 18th. 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, Primerica has a consensus rating of “Hold” and a consensus target price of $281.67.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total value of $757,650.00. Following the completion of the transaction, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the sale, the president now owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,500 shares of company stock valued at $1,657,015. 0.85% of the stock is owned by corporate insiders.

Primerica Stock Performance

PRI stock opened at $274.75 on Friday. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $279.89. The company’s 50 day moving average price is $258.80 and its 200 day moving average price is $241.73. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 16.72 and a beta of 1.09.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.24. The firm had revenue of $803.38 million during the quarter, compared to the consensus estimate of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.99 earnings per share. Equities analysts forecast that Primerica, Inc. will post 18.03 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.31%. This is an increase from Primerica’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 21st. Primerica’s dividend payout ratio is 21.91%.

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.