Running Oak Capital LLC Has $14.56 Million Position in Primerica, Inc. (NYSE:PRI)

Running Oak Capital LLC grew its holdings in Primerica, Inc. (NYSE:PRI) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,644 shares of the financial services provider’s stock after buying an additional 1,919 shares during the quarter. Primerica accounts for approximately 1.9% of Running Oak Capital LLC’s holdings, making the stock its 14th biggest holding. Running Oak Capital LLC owned 0.16% of Primerica worth $14,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Primerica in the third quarter worth about $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica in the 3rd quarter valued at approximately $31,000. UMB Bank n.a. raised its holdings in shares of Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the period. Finally, Quarry LP boosted its stake in Primerica by 629.2% in the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after buying an additional 302 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

PRI opened at $289.80 on Friday. The company’s 50 day simple moving average is $285.15 and its 200-day simple moving average is $271.18. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The stock has a market capitalization of $9.67 billion, a P/E ratio of 22.14 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same period last year, the company earned $4.28 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts anticipate that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica declared that its board has authorized a share repurchase plan on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Primerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.24%. Primerica’s dividend payout ratio is currently 27.50%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the subject of several recent analyst reports. TD Cowen increased their price objective on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial increased their target price on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday. They set a “market perform” rating and a $311.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $304.14.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.