Compass Wealth Management LLC Buys Shares of 3,085 Primerica, Inc. $PRI

Compass Wealth Management LLC purchased a new position in Primerica, Inc. (NYSE:PRI) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,085 shares of the financial services provider’s stock, valued at approximately $856,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in Primerica during the third quarter valued at $27,000. Smartleaf Asset Management LLC increased its holdings in shares of Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 69 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Primerica in the 2nd quarter worth about $33,000. Quent Capital LLC purchased a new position in shares of Primerica in the 3rd quarter worth about $33,000. Finally, First Horizon Advisors Inc. boosted its stake in Primerica by 1,714.3% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

PRI has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. TD Cowen reissued a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Morgan Stanley set a $292.00 price objective on shares of Primerica in a report on Monday, December 15th. Keefe, Bruyette & Woods lowered their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.00.

Insiders Place Their Bets

In other Primerica news, Director Joel M. Babbit sold 700 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total value of $178,500.00. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. This represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the completion of the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. The trade was a 8.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is currently owned by corporate insiders.

Primerica Stock Up 1.3%

Shares of PRI stock opened at $260.73 on Friday. The company has a 50 day moving average price of $261.08 and a 200-day moving average price of $263.40. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $296.00. The firm has a market capitalization of $8.32 billion, a PE ratio of 11.37 and a beta of 0.91.

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

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This is an increase from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Primerica’s dividend payout ratio is presently 18.14%.

Primerica declared that its board has authorized a stock buyback program on Wednesday, November 19th that allows the company to repurchase $475.00 million in outstanding 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 usually a sign that the company’s management believes its shares are undervalued.

About Primerica

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.