Strategic Financial Concepts LLC Invests $8.77 Million in Primerica, Inc. (NYSE:PRI)

Strategic Financial Concepts LLC bought a new stake in Primerica, Inc. (NYSE:PRI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,299 shares of the financial services provider’s stock, valued at approximately $8,767,000. Strategic Financial Concepts LLC owned about 0.10% of Primerica as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRI. CIBC Asset Management Inc increased its position in shares of Primerica by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 36 shares during the last quarter. Creative Planning boosted its position in shares of Primerica by 0.7% during the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after purchasing an additional 40 shares during the period. Kingsview Wealth Management LLC increased its holdings in Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after purchasing an additional 43 shares during the last quarter. Larson Financial Group LLC raised its position in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the period. Finally, Everhart Financial Group Inc. lifted its stake in Primerica by 2.5% during the fourth quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 65 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Performance

PRI stock opened at $281.29 on Friday. The company’s 50 day moving average price is $282.17 and its 200 day moving average price is $275.91. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 21.49 and a beta of 1.11. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Equities analysts forecast that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica declared that its board has approved a share repurchase 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 reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s payout ratio is 27.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PRI shares. BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Morgan Stanley lifted their target price on Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research report on Friday. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Finally, TD Cowen increased their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $310.43.

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.