Alps Advisors Inc. Takes Position in Primerica, Inc. $PRI

Alps Advisors Inc. purchased a new position in shares of Primerica, Inc. (NYSE:PRI) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 73,936 shares of the financial services provider’s stock, valued at approximately $20,524,000.

Several other institutional investors have also bought and sold shares of PRI. Root Financial Partners LLC purchased a new stake in Primerica in the third quarter worth $27,000. Quent Capital LLC bought a new stake in Primerica in the 3rd quarter valued at about $33,000. Cullen Frost Bankers Inc. purchased a new stake in Primerica during the second quarter valued at about $33,000. First Horizon Advisors Inc. boosted its position in Primerica by 1,714.3% during the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in Primerica by 620.0% during the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 186 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $255.30, for a total value of $510,600.00. Following the completion of the transaction, the president directly owned 7,301 shares in the company, valued at approximately $1,863,945.30. This represents a 21.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joel M. Babbit sold 700 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total value of $178,500.00. Following the transaction, the director directly owned 8,400 shares in the company, valued at approximately $2,142,000. This represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,200 shares of company stock valued at $1,338,225. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 11th. Zacks Research upgraded Primerica from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Morgan Stanley set a $292.00 price target on Primerica in a research report on Monday, December 15th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, TD Cowen reaffirmed a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $300.00.

Primerica Stock Performance

NYSE:PRI opened at $276.37 on Monday. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $298.75. The stock has a fifty day moving average of $260.40 and a 200 day moving average of $263.85. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 12.70 and a beta of 0.91.

Primerica announced that its Board of Directors has authorized a share buyback program on Wednesday, November 19th that allows the company to repurchase $475.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 5.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is 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.