State of Alaska Department of Revenue Reduces Stock Position in Primerica, Inc. (NYSE:PRI)

State of Alaska Department of Revenue trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,488 shares of the financial services provider’s stock after selling 125 shares during the period. State of Alaska Department of Revenue owned approximately 0.09% of Primerica worth $8,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp grew its position in shares of Primerica by 8.5% in the second quarter. Truist Financial Corp now owns 8,004 shares of the financial services provider’s stock valued at $1,894,000 after purchasing an additional 630 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Primerica in the 2nd quarter worth about $1,098,000. GAMMA Investing LLC grew its holdings in Primerica by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 982 shares of the financial services provider’s stock valued at $260,000 after buying an additional 281 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Primerica during the third quarter valued at about $286,000. Finally, CWM LLC lifted its holdings in shares of Primerica by 3.0% in the third quarter. CWM LLC now owns 2,922 shares of the financial services provider’s stock worth $775,000 after buying an additional 84 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 value of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

PRI has been the subject of several recent analyst reports. BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Truist Financial increased their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, TD Cowen raised their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $304.14.

Primerica Stock Up 0.1 %

NYSE PRI opened at $296.29 on Friday. The stock’s 50-day simple moving average is $283.65 and its two-hundred day simple moving average is $274.01. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 22.63 and a beta of 1.11.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping 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 company had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the company posted $4.28 EPS. Primerica’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts expect that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its Board of Directors has initiated a share buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Primerica Company Profile

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.