Primerica, Inc. (NYSE:PRI) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its holdings in shares of Primerica, Inc. (NYSE:PRI) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,427 shares of the financial services provider’s stock after selling 1,035 shares during the quarter. Natixis Advisors LLC’s holdings in Primerica were worth $29,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc boosted its holdings 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 purchasing an additional 36 shares during the last quarter. Creative Planning boosted its holdings in Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after purchasing an additional 40 shares during the last quarter. Blue Trust Inc. boosted its holdings in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 60 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in Primerica by 2.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 62 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in Primerica by 1.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock valued at $1,484,000 after purchasing an additional 62 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. This represents a 12.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $1,803,175 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Primerica Stock Up 0.6 %

Shares of PRI opened at $298.61 on Monday. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $304.84. The firm’s 50 day moving average price is $273.65 and its 200 day moving average price is $251.41. The company has a market cap of $9.96 billion, a P/E ratio of 22.81 and a beta of 1.08.

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, topping the consensus estimate 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 prior year, the firm earned $4.28 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts forecast that Primerica, Inc. will post 19.12 earnings per share for the current year.

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

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s payout ratio is currently 27.50%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRI. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. TD Cowen began coverage on shares of Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price objective on the stock. Finally, Piper Sandler began coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $288.33.

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.