Tidal Investments LLC Trims Position in Primerica, Inc. (NYSE:PRI)

Tidal Investments LLC trimmed its position in Primerica, Inc. (NYSE:PRI) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,130 shares of the financial services provider’s stock after selling 1,192 shares during the period. Tidal Investments LLC’s holdings in Primerica were worth $1,095,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the third quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica during the 3rd quarter worth $31,000. UMB Bank n.a. grew its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares during the period. Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares in the last quarter. Finally, Blue Trust Inc. increased 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 worth $49,000 after purchasing an additional 60 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

Shares of PRI opened at $266.84 on Friday. The firm has a market cap of $8.90 billion, a P/E ratio of 20.39 and a beta of 1.09. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The company has a 50 day simple moving average of $287.74 and a two-hundred day simple moving average of $262.59.

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

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 given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.35%. Primerica’s dividend payout ratio is currently 27.50%.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on PRI shares. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler dropped their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Hold” and an average price target of $296.33.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is currently owned by 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.