Edgestream Partners L.P. Buys 614 Shares of Primerica, Inc. (NYSE:PRI)

Edgestream Partners L.P. lifted its position in shares of Primerica, Inc. (NYSE:PRI) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,745 shares of the financial services provider’s stock after purchasing an additional 614 shares during the period. Edgestream Partners L.P. owned 0.06% of Primerica worth $5,359,000 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. Prospera Private Wealth LLC purchased a new position in Primerica in the 3rd quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new position in shares of Primerica in the 4th quarter worth about $33,000. Larson Financial Group LLC grew its position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the last quarter. Venturi Wealth Management LLC raised its position in Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 115 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

PRI has been the subject of several recent analyst reports. BMO Capital Markets began 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. TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Price Performance

PRI stock opened at $280.74 on Friday. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The business has a 50 day simple moving average of $283.93 and a two-hundred day simple moving average of $278.89. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 20.42 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. Primerica’s payout ratio is 30.25%.

Primerica announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 over the last quarter. Insiders own 0.85% of the company’s stock.

Primerica 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.