Mutual of America Capital Management LLC Lowers Stock Holdings in Primerica, Inc. (NYSE:PRI)

Mutual of America Capital Management LLC lowered its stake in Primerica, Inc. (NYSE:PRI) by 2.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,863 shares of the financial services provider’s stock after selling 1,093 shares during the period. Mutual of America Capital Management LLC’s holdings in Primerica were worth $10,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in Primerica in the third quarter worth $31,000. Golden State Wealth Management LLC purchased a new position in shares of Primerica in the 4th quarter worth about $33,000. Larson Financial Group LLC boosted its stake in 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. Venturi Wealth Management LLC grew its position in Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is currently owned by company insiders.

Primerica Trading Up 2.0 %

Shares of PRI opened at $289.86 on Friday. The firm has a fifty day simple moving average of $282.64 and a two-hundred day simple moving average of $278.13. The firm has a market cap of $9.67 billion, a PE ratio of 21.08 and a beta of 1.11. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last posted 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 return on equity of 31.11% and a net margin of 15.14%. As a group, research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its board has approved a stock repurchase 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 buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a $1.04 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PRI shares. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley lowered their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Primerica currently has a consensus rating of “Hold” and a consensus target price of $309.86.

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.