Logan Capital Management Inc. Has $11.64 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Logan Capital Management Inc. reduced its stake in Primerica, Inc. (NYSE:PRI) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,880 shares of the financial services provider’s stock after selling 604 shares during the quarter. Logan Capital Management Inc.’s holdings in Primerica were worth $11,635,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Primerica during the 2nd quarter worth about $893,000. ORG Partners LLC bought a new stake in Primerica in the second quarter worth approximately $30,000. Envestnet Portfolio Solutions Inc. lifted its stake in Primerica by 3.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,561 shares of the financial services provider’s stock valued at $1,552,000 after buying an additional 239 shares during the period. Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Primerica during the 2nd quarter worth approximately $1,766,000. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PRI has been the topic of several research reports. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. 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. Truist Financial raised their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Finally, Piper Sandler initiated coverage on Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $293.50.

Primerica Price Performance

Shares of PRI stock traded up $0.26 during trading hours on Friday, reaching $284.80. The company had a trading volume of 4,867 shares, compared to its average volume of 152,024. The business has a fifty day simple moving average of $287.60 and a 200-day simple moving average of $260.86. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 21.72 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same period in the previous year, the firm earned $4.28 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Primerica, Inc. will post 19.32 earnings per share for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s payout ratio is 27.50%.

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

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.85% of the company’s stock.

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.