2,281 Shares in Primerica, Inc. $PRI Acquired by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC purchased a new stake in Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,281 shares of the financial services provider’s stock, valued at approximately $633,000.

Several other hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its holdings in shares of Primerica by 35.9% during the second quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider’s stock valued at $119,847,000 after acquiring an additional 115,754 shares during the period. Copeland Capital Management LLC acquired a new stake in shares of Primerica during the 2nd quarter worth about $27,425,000. Envestnet Asset Management Inc. lifted its holdings in Primerica by 30.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 133,692 shares of the financial services provider’s stock valued at $36,587,000 after purchasing an additional 31,278 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Primerica by 21.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 171,172 shares of the financial services provider’s stock valued at $46,845,000 after purchasing an additional 30,533 shares during the last quarter. Finally, Callan Family Office LLC boosted its position in Primerica by 936.5% in the second quarter. Callan Family Office LLC now owns 33,447 shares of the financial services provider’s stock valued at $9,153,000 after buying an additional 30,220 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRI has been the subject of several recent analyst reports. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $292.00 to $318.00 in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a report on Monday, December 29th. Zacks Research downgraded Primerica from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Keefe, Bruyette & Woods decreased their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. Finally, Piper Sandler set a $292.00 target price on Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $300.00.

Insider Buying and Selling at Primerica

In other news, 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 transaction, the president owned 7,301 shares of the company’s stock, valued at $1,863,945.30. This represents a 21.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total value of $649,125.00. Following the sale, the chief executive officer directly owned 33,892 shares of the company’s stock, valued at approximately $8,800,057.80. This trade represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 5,200 shares of company stock valued at $1,338,225. 0.61% of the stock is currently owned by insiders.

Primerica Stock Up 1.5%

Primerica stock opened at $263.46 on Friday. The business’s 50-day simple moving average is $257.76 and its 200 day simple moving average is $264.66. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 12.11 and a beta of 0.90. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $298.75.

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

Primerica Dividend Announcement

The firm also recently disclosed 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 is currently 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Primerica 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.