UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Primerica, Inc. (NYSE:PRI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,942 shares of the financial services provider’s stock after selling 3,906 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Primerica were worth $34,719,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PRI. ORG Partners LLC purchased a new stake in shares of Primerica during the 2nd quarter worth approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new stake in shares of Primerica during the 3rd quarter worth approximately $31,000. UMB Bank n.a. increased its stake in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

PRI has been the subject of several research analyst reports. Piper Sandler initiated coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price target for the company. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. TD Cowen raised their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial raised their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.50.

Insider Buying and Selling at Primerica

In other news, Director John A. Jr. Addison sold 2,000 shares of Primerica stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. The trade was a 11.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Primerica Price Performance

Shares of NYSE:PRI opened at $297.88 on Thursday. The firm has a fifty day moving average price of $284.96 and a two-hundred day moving average price of $258.59. 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 $9.94 billion, a price-to-earnings ratio of 22.76 and a beta of 1.09.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same period last year, the firm earned $4.28 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica declared that its Board of Directors has approved a share repurchase program 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 reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.