Wealth Enhancement Advisory Services LLC Has $1.95 Million Stock Holdings in Primerica, Inc. $PRI

Wealth Enhancement Advisory Services LLC boosted its position in Primerica, Inc. (NYSE:PRI) by 76.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,149 shares of the financial services provider’s stock after buying an additional 3,100 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Primerica were worth $1,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hilltop National Bank acquired a new position in shares of Primerica during the second quarter worth approximately $31,000. Cullen Frost Bankers Inc. acquired a new position in Primerica during the second quarter worth $33,000. Quent Capital LLC bought a new position in shares of Primerica in the third quarter valued at $33,000. First Horizon Advisors Inc. grew its holdings in shares of Primerica by 1,714.3% during the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after buying an additional 120 shares during the last quarter. Finally, MAI Capital Management increased its position in shares of Primerica by 160.9% during the second quarter. MAI Capital Management now owns 227 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PRI shares. Piper Sandler set a $292.00 price target on shares of Primerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley set a $292.00 price target on Primerica in a research report on Monday, December 15th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings lowered shares of Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Primerica currently has an average rating of “Moderate Buy” and an average target price of $300.00.

Primerica Stock Performance

Shares of PRI opened at $262.81 on Friday. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $298.75. The stock’s 50-day simple moving average is $259.35 and its 200 day simple moving average is $263.74. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 12.08 and a beta of 0.90.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The firm had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. During the same period in the prior year, the firm posted $4.83 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 21st were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. Primerica’s dividend payout ratio is presently 19.12%.

Primerica declared that its Board of Directors has approved a share repurchase program on Wednesday, November 19th that allows the company to repurchase $475.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 5.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Joel M. Babbit sold 700 shares of Primerica stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the sale, the director owned 8,400 shares in the company, valued at approximately $2,142,000. This trade represents a 7.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the transaction, the president directly owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. This represents a 21.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,200 shares of company stock worth $1,338,225. Corporate insiders own 0.61% of the company’s stock.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.