Atria Investments Inc Decreases Stake in Primerica, Inc. $PRI

Atria Investments Inc reduced its holdings in shares of Primerica, Inc. (NYSE:PRI) by 22.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,749 shares of the financial services provider’s stock after selling 2,901 shares during the quarter. Atria Investments Inc’s holdings in Primerica were worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PRI. Burgundy Asset Management Ltd. raised its position in Primerica by 1.8% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,333,473 shares of the financial services provider’s stock worth $364,932,000 after buying an additional 23,454 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Primerica by 35.9% during the 2nd 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 last quarter. Bank of New York Mellon Corp grew its stake in shares of Primerica by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 318,653 shares of the financial services provider’s stock worth $87,206,000 after acquiring an additional 3,024 shares during the period. Nordea Investment Management AB purchased a new position in shares of Primerica during the third quarter valued at approximately $51,004,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Primerica by 21.7% during the second 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. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley set a $292.00 target price on shares of Primerica in a report on Monday, December 15th. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Tuesday, November 11th. Finally, TD Cowen reissued 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 given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Primerica has an average rating of “Moderate Buy” and a consensus price target of $300.00.

Primerica Stock Performance

Shares of Primerica stock opened at $250.91 on Tuesday. The stock has a market cap of $8.01 billion, a P/E ratio of 10.94 and a beta of 0.91. The stock’s fifty day moving average is $260.78 and its 200 day moving average is $263.51. Primerica, Inc. has a one year low of $230.09 and a one year high of $296.00.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.69 by $0.44. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The business had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. During the same quarter in the previous year, the company posted $5.03 earnings per share. Primerica’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be issued a dividend of $1.20 per share. This is an increase from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, February 23rd. Primerica’s payout ratio is presently 18.14%.

Primerica declared that its Board of Directors has authorized a stock repurchase program on Wednesday, November 19th that permits the company to repurchase $475.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total value of $178,500.00. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $2,142,000. This represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by insiders.

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.