First Trust Advisors LP Has $136.60 Million Position in Primerica, Inc. $PRI

First Trust Advisors LP grew its stake in Primerica, Inc. (NYSE:PRI) by 12.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 492,083 shares of the financial services provider’s stock after purchasing an additional 54,158 shares during the quarter. First Trust Advisors LP’s holdings in Primerica were worth $136,597,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PRI. Olympiad Research LP boosted its holdings in shares of Primerica by 3.9% during the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock worth $290,000 after buying an additional 40 shares during the period. Orion Porfolio Solutions LLC raised its holdings in Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 45 shares during the period. Ascent Group LLC raised its holdings in Primerica by 6.5% in the 3rd quarter. Ascent Group LLC now owns 836 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 51 shares during the period. Vident Advisory LLC lifted its position in Primerica by 3.2% during the second quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 55 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Primerica by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 22,844 shares of the financial services provider’s stock worth $6,252,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $7,023,582.72. This represents a 8.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Primerica Stock Down 2.5%

Shares of NYSE:PRI opened at $257.65 on Monday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $296.00. The company’s 50 day moving average price is $260.65 and its two-hundred day moving average price is $263.07. The firm has a market cap of $8.16 billion, a PE ratio of 11.24 and a beta of 0.92.

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

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

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders 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 represents a $4.80 annualized dividend and a yield of 1.9%. This is a boost from Primerica’s previous quarterly dividend of $1.04. Primerica’s payout ratio is presently 20.93%.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of research analyst reports. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Morgan Stanley lowered their target price on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods dropped their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Tuesday, November 11th. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and a consensus target price of $298.60.

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.