Cynosure Group LLC Acquires 1,372 Shares of Primerica, Inc. (NYSE:PRI)

Cynosure Group LLC lifted its holdings in Primerica, Inc. (NYSE:PRI) by 83.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,024 shares of the financial services provider’s stock after buying an additional 1,372 shares during the period. Cynosure Group LLC’s holdings in Primerica were worth $802,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in shares of Primerica in the 2nd quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Primerica in the third quarter worth approximately $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. boosted its holdings in 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. Finally, Larson Financial Group LLC grew its position in Primerica by 56.8% in 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. 90.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s 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 transaction, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the sale, the director now directly owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 11.66 % 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.

Primerica Price Performance

Shares of PRI stock opened at $304.93 on Wednesday. The company has a market cap of $10.18 billion, a P/E ratio of 23.29 and a beta of 1.08. The stock’s 50-day moving average is $280.07 and its 200 day moving average is $255.60. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $306.48.

Primerica (NYSE:PRI) last announced 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 the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Primerica’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $4.28 earnings per share. On average, analysts anticipate that Primerica, Inc. will post 19.12 EPS for the current year.

Primerica declared that its Board of Directors has authorized a stock buyback program 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 buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRI. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, 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 on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $293.50.

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.