Prospector Partners LLC Has $20.43 Million Holdings in Primerica, Inc. (NYSE:PRI)

Prospector Partners LLC raised its holdings in Primerica, Inc. (NYSE:PRI) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,055 shares of the financial services provider’s stock after acquiring an additional 210 shares during the period. Primerica comprises about 2.1% of Prospector Partners LLC’s investment portfolio, making the stock its 13th largest holding. Prospector Partners LLC owned about 0.23% of Primerica worth $20,431,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. ORG Partners LLC bought a new stake in Primerica in the 2nd quarter valued at $30,000. V Square Quantitative Management LLC acquired a new stake in shares of Primerica in the 3rd quarter valued at about $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica in the third quarter valued at about $31,000. UMB Bank n.a. boosted its position in shares of Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total value of $507,700.00. Following the transaction, the director now owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. This represents a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following 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 disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

PRI has been the topic of several research reports. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler initiated coverage on shares of Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price for the company. Morgan Stanley boosted their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. TD Cowen assumed coverage on Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price objective for the company. Finally, Truist Financial increased 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. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $288.33.

Primerica Stock Performance

Shares of NYSE:PRI opened at $303.40 on Tuesday. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $305.90. The company has a market capitalization of $10.12 billion, a P/E ratio of 23.18 and a beta of 1.08. The company has a 50-day simple moving average of $279.11 and a 200 day simple moving average of $255.03.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 30.93% and a net margin of 14.95%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $4.28 earnings per share. As a group, equities analysts forecast that Primerica, Inc. will post 19.12 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 repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.19%. Primerica’s dividend payout ratio (DPR) is 27.50%.

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.