Callan Family Office LLC Trims Holdings in Primerica, Inc. $PRI

Callan Family Office LLC lessened its stake in Primerica, Inc. (NYSE:PRI) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,818 shares of the financial services provider’s stock after selling 2,629 shares during the period. Callan Family Office LLC owned about 0.10% of Primerica worth $8,555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PRI. Root Financial Partners LLC bought a new stake in shares of Primerica in the 3rd quarter worth about $27,000. Hilltop National Bank bought a new position in shares of Primerica during the second quarter worth about $31,000. Quent Capital LLC acquired a new position in Primerica in the third quarter worth about $33,000. Cullen Frost Bankers Inc. bought a new stake in Primerica in the second quarter valued at about $33,000. Finally, First Horizon Advisors Inc. raised its stake in 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 in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In other Primerica news, Director Joel M. Babbit sold 700 shares of the business’s stock in a transaction on 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 transaction, the director owned 8,400 shares in the company, valued at approximately $2,142,000. The trade was 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 stock in a transaction on Monday, November 17th. The stock was sold at an average price of $255.30, for a total value 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. The trade was a 21.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 5,200 shares of company stock worth $1,338,225. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Weiss Ratings cut Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, January 21st. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Piper Sandler set a $292.00 target price on shares of Primerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Primerica presently has a consensus rating of “Moderate Buy” and an average target price of $300.00.

Primerica Stock Performance

PRI stock opened at $264.50 on Tuesday. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $298.75. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 12.16 and a beta of 0.91. The stock’s fifty day moving average is $259.47 and its two-hundred day moving average is $263.74.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping analysts’ consensus estimates of $5.52 by $0.81. The business had revenue of $838.88 million for the quarter, compared to analysts’ expectations of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.83 EPS. As a group, analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica announced that its board has approved a share repurchase program on Wednesday, November 19th that authorizes the company to buyback $475.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Primerica Dividend Announcement

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

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.