Academy Capital Management Sells 411 Shares of Primerica, Inc. (NYSE:PRI)

Academy Capital Management cut its position in Primerica, Inc. (NYSE:PRI) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,810 shares of the financial services provider’s stock after selling 411 shares during the quarter. Primerica makes up 6.2% of Academy Capital Management’s investment portfolio, making the stock its 8th biggest holding. Academy Capital Management owned about 0.42% of Primerica worth $37,947,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the period. Los Angeles Capital Management LLC boosted its stake in Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after purchasing an additional 11,612 shares during the period. Prospector Partners LLC grew its position in Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock worth $20,431,000 after purchasing an additional 210 shares during the last quarter. Stifel Financial Corp increased its stake in Primerica by 0.5% in the third quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock valued at $16,965,000 after purchasing an additional 333 shares during the period. Finally, Running Oak Capital LLC raised its holdings in shares of Primerica by 3.7% in the fourth quarter. Running Oak Capital LLC now owns 53,644 shares of the financial services provider’s stock valued at $14,560,000 after buying an additional 1,919 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Primerica stock opened at $282.10 on Wednesday. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The company has a market cap of $9.41 billion, a P/E ratio of 20.52 and a beta of 1.11. The business has a fifty day moving average of $283.23 and a two-hundred day moving average of $278.67.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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%. Sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica announced that its Board of Directors has approved a share buyback 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 repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Primerica Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 30.25%.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’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 sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. TD Cowen lifted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Truist Financial lifted their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, 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 research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.