Atria Wealth Solutions Inc. Purchases 130 Shares of Primerica, Inc. (NYSE:PRI)

Atria Wealth Solutions Inc. grew its position in Primerica, Inc. (NYSE:PRI) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,409 shares of the financial services provider’s stock after purchasing an additional 130 shares during the period. Atria Wealth Solutions Inc.’s holdings in Primerica were worth $290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PRI. Commonwealth Equity Services LLC grew its position in Primerica by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 2,367 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 75 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Primerica by 6.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,271 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 143 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Primerica by 1.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 59 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Primerica during the third quarter valued at approximately $284,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Primerica by 15.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,402 shares of the financial services provider’s stock valued at $1,436,000 after purchasing an additional 982 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial upped their target price on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Morgan Stanley lifted their price target on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $245.50.

Primerica Stock Performance

Shares of PRI stock opened at $218.10 on Thursday. Primerica, Inc. has a 52 week low of $176.81 and a 52 week high of $256.56. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 13.27 and a beta of 1.10. The company has a 50-day simple moving average of $236.05 and a 200 day simple moving average of $223.44.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The firm had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.49 EPS. Sell-side analysts forecast that Primerica, Inc. will post 17.78 EPS for the current year.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Monday, May 20th. Primerica’s payout ratio is 18.26%.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total value of $365,115.00. Following the transaction, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,708 shares of company stock valued at $1,648,677. 0.61% of the stock is currently owned by corporate insiders.

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.