Primerica, Inc. (NYSE:PRI) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in Primerica, Inc. (NYSE:PRI) by 0.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 94,687 shares of the financial services provider’s stock after selling 722 shares during the period. Rhumbline Advisers’ holdings in Primerica were worth $25,700,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after acquiring an additional 25,951 shares in the last quarter. Barclays PLC boosted its holdings in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 10,635 shares in the last quarter. Sylvest Advisors LLC acquired a new stake in Primerica in the fourth quarter worth about $543,000. Oak Thistle LLC boosted its holdings in Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 1,943 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Primerica in the third quarter worth about $3,710,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of research reports. Piper Sandler decreased their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday. Morgan Stanley lifted their target price on Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Truist Financial lifted their target price on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and an average target price of $311.14.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.85% of the company’s stock.

Primerica Trading Down 0.6 %

Shares of PRI stock opened at $280.59 on Thursday. The stock has a 50 day moving average of $282.03 and a 200 day moving average of $276.56. The stock has a market cap of $9.36 billion, a P/E ratio of 20.41 and a beta of 1.11. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, research analysts predict that Primerica, Inc. will post 20.53 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a $1.04 dividend. The ex-dividend date is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. Primerica’s payout ratio is 30.25%.

Primerica announced that its board has approved a share buyback plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Primerica Company 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.