Academy Capital Management Has $36.90 Million Stock Position in Primerica, Inc. $PRI

Academy Capital Management decreased its position in Primerica, Inc. (NYSE:PRI) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,913 shares of the financial services provider’s stock after selling 2,785 shares during the period. Primerica accounts for 5.3% of Academy Capital Management’s investment portfolio, making the stock its 10th biggest holding. Academy Capital Management’s holdings in Primerica were worth $36,895,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP increased its position in shares of Primerica by 46.0% during the third quarter. Allworth Financial LP now owns 460 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 145 shares during the last quarter. Swiss Life Asset Management Ltd boosted its position in Primerica by 78.8% in the third quarter. Swiss Life Asset Management Ltd now owns 1,529 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 674 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Primerica by 10.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,542 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 146 shares during the period. Prana Capital Management LP increased its position in shares of Primerica by 22.8% during the 3rd quarter. Prana Capital Management LP now owns 66,916 shares of the financial services provider’s stock valued at $18,575,000 after purchasing an additional 12,432 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Primerica during the 3rd quarter worth $428,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of PRI stock opened at $258.96 on Friday. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 11.29 and a beta of 0.91. The company’s fifty day simple moving average is $260.81 and its two-hundred day simple moving average is $263.23. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $296.00.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share 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 company had revenue of $853.51 million during the quarter, compared to analysts’ expectations of $839.65 million. During the same period in the previous year, the business earned $5.03 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica declared that its board has authorized a stock repurchase program on Wednesday, November 19th that permits the company to repurchase $475.00 million in outstanding 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 usually an indication that the company’s board believes its stock is undervalued.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be given a dividend of $1.20 per share. This is a boost from Primerica’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, February 23rd. Primerica’s dividend payout ratio (DPR) is currently 20.93%.

Insider Activity

In related 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 transaction of $178,500.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This trade represents a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. Morgan Stanley set a $292.00 target price on shares of Primerica in a research note on Monday, December 15th. Weiss Ratings upgraded shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, TD Cowen reissued a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $300.00.

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.