Flputnam Investment Management Co. Sells 58 Shares of Primerica, Inc. (NYSE:PRI)

Flputnam Investment Management Co. reduced its stake in Primerica, Inc. (NYSE:PRI) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,362 shares of the financial services provider’s stock after selling 58 shares during the period. Flputnam Investment Management Co.’s holdings in Primerica were worth $641,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after buying an additional 36 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of Primerica by 0.7% in the third 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 increased its stake 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 purchasing an additional 54 shares during the period. Everhart Financial Group Inc. lifted its holdings in Primerica by 2.5% during the 4th 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 during the last quarter. Finally, Allworth Financial LP boosted its stake in Primerica by 27.3% in the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 71 shares during the period. 90.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial increased their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley cut their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday. TD Cowen raised 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. Finally, Keefe, Bruyette & Woods boosted their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and a consensus target price of $309.86.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is owned by corporate insiders.

Primerica Trading Down 0.3 %

Shares of NYSE:PRI opened at $289.10 on Tuesday. The firm has a 50 day moving average of $283.02 and a 200-day moving average of $278.50. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a market capitalization of $9.65 billion, a PE ratio of 21.03 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is 30.25%.

Primerica announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Primerica

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.