Primerica, Inc. $PRI Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 38.6% during the third quarter, Holdings Channel reports. The fund owned 9,937 shares of the financial services provider’s stock after selling 6,242 shares during the period. HighTower Advisors LLC’s holdings in Primerica were worth $2,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRI. Root Financial Partners LLC purchased a new stake in Primerica during the 3rd quarter worth about $27,000. Smartleaf Asset Management LLC grew its position in shares of Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Primerica during the third quarter worth approximately $33,000. First Horizon Advisors Inc. raised its holdings in Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Primerica by 620.0% in the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 186 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the sale, the chief executive officer owned 27,392 shares in the company, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joel M. Babbit sold 700 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total value of $178,500.00. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at $2,142,000. This trade represents a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is currently owned by corporate insiders.

Primerica Stock Up 1.4%

PRI opened at $258.96 on Friday. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $296.00. The business’s 50 day moving average is $260.81 and its two-hundred day moving average is $263.23. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 11.29 and a beta of 0.91.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million for the quarter, compared to analyst estimates of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $5.03 earnings per share. Equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 19th that authorizes the company to buyback $475.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Primerica’s dividend payout ratio is currently 20.93%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PRI shares. Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $292.00 price objective on Primerica in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $300.00.

Primerica Company 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.