7,707 Shares in Primerica, Inc. $PRI Purchased by Ellsworth Advisors LLC

Ellsworth Advisors LLC acquired a new position in shares of Primerica, Inc. (NYSE:PRI) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 7,707 shares of the financial services provider’s stock, valued at approximately $2,064,000.

A number of other large investors also recently made changes to their positions in the business. CWM LLC boosted its holdings in shares of Primerica by 101.4% during the third quarter. CWM LLC now owns 6,588 shares of the financial services provider’s stock worth $1,829,000 after purchasing an additional 3,317 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Primerica during the 3rd quarter valued at $1,546,000. World Investment Advisors grew its holdings in shares of Primerica by 2.2% during the 3rd quarter. World Investment Advisors now owns 7,682 shares of the financial services provider’s stock valued at $2,132,000 after acquiring an additional 165 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Primerica by 11.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,712 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 180 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Primerica in the third quarter worth $222,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRI. BMO Capital Markets raised Primerica from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Morgan Stanley set a $292.00 price target on Primerica in a report on Monday, December 15th. Piper Sandler set a $292.00 price objective on Primerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods reduced 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. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Primerica in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $300.00.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the sale, the president directly owned 7,301 shares in the company, valued at $1,863,945.30. This represents a 21.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total value of $649,125.00. Following the completion of the transaction, the chief executive officer owned 33,892 shares in the company, valued at $8,800,057.80. The trade was a 6.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,200 shares of company stock valued at $1,338,225 in the last quarter. Insiders own 0.61% of the company’s stock.

Primerica Stock Performance

Shares of PRI stock opened at $259.45 on Friday. The stock’s 50 day simple moving average is $258.38 and its 200 day simple moving average is $264.64. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $298.75. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 11.92 and a beta of 0.90.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, beating the consensus estimate of $5.52 by $0.81. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The company had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. During the same quarter last year, the company posted $4.83 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 21st. Primerica’s dividend payout ratio (DPR) is 19.12%.

Primerica declared that its Board of Directors has initiated a share buyback 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 buy up to 5.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.