Natixis Advisors LLC Decreases Stake in Primerica, Inc. $PRI

Natixis Advisors LLC cut its stake in Primerica, Inc. (NYSE:PRI) by 24.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,289 shares of the financial services provider’s stock after selling 25,749 shares during the period. Natixis Advisors LLC owned 0.25% of Primerica worth $22,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PRI. Blair William & Co. IL increased its stake in Primerica by 3.6% during the 3rd quarter. Blair William & Co. IL now owns 12,296 shares of the financial services provider’s stock valued at $3,413,000 after purchasing an additional 432 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Primerica by 12.4% during the third quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock worth $136,597,000 after buying an additional 54,158 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Primerica by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 51,439 shares of the financial services provider’s stock valued at $14,279,000 after buying an additional 6,746 shares during the last quarter. Barclays PLC grew its holdings in shares of Primerica by 75.8% during the third quarter. Barclays PLC now owns 32,434 shares of the financial services provider’s stock valued at $9,003,000 after buying an additional 13,984 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Primerica by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after acquiring an additional 2,525 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 1.2%

Shares of PRI stock opened at $251.33 on Thursday. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $296.00. The stock has a market cap of $7.96 billion, a PE ratio of 10.96 and a beta of 0.92. The business has a 50-day simple moving average of $260.28 and a 200-day simple moving average of $262.80.

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

Primerica declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 19th that permits the company to repurchase $475.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, February 23rd. This is a positive change from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio is 20.93%.

Insider Buying and Selling

In other news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total transaction of $454,284.00. Following the completion of the transaction, the president directly owned 11,611 shares of the company’s stock, valued at $2,930,384.18. The trade was a 13.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the transaction, the chief executive officer owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This represents 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRI shares. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Morgan Stanley reduced their price objective on Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Finally, Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Primerica has a consensus rating of “Hold” and an average price target of $298.60.

Primerica 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.