Mutual of America Capital Management LLC Lowers Position in Primerica, Inc. $PRI

Mutual of America Capital Management LLC trimmed its position in Primerica, Inc. (NYSE:PRI) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,729 shares of the financial services provider’s stock after selling 3,028 shares during the period. Mutual of America Capital Management LLC owned 0.11% of Primerica worth $9,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atria Investments Inc boosted its stake in Primerica by 27.6% during the second quarter. Atria Investments Inc now owns 12,650 shares of the financial services provider’s stock worth $3,462,000 after acquiring an additional 2,740 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Primerica during the third quarter valued at approximately $51,004,000. Aviva PLC bought a new stake in shares of Primerica in the 2nd quarter worth approximately $514,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Primerica by 115.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 11,774 shares of the financial services provider’s stock worth $3,268,000 after buying an additional 6,300 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new position in Primerica during the 3rd quarter valued at approximately $2,121,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Stock Up 0.8%

Shares of PRI stock opened at $256.82 on Tuesday. The firm has a market capitalization of $8.20 billion, a PE ratio of 11.80 and a beta of 0.90. The company has a 50 day moving average price of $259.33 and a 200-day moving average price of $263.86. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $298.75.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.52 by $0.81. The company had revenue of $838.88 million for the quarter, compared to analysts’ expectations of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $4.83 earnings per share. Analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 21st were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, November 21st. Primerica’s payout ratio is currently 19.12%.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods dropped their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. Morgan Stanley set a $292.00 price target on shares of Primerica in a research note on Monday, December 15th. Piper Sandler set a $292.00 price objective on shares of Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Weiss Ratings cut shares of Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $300.00.

Insider Buying and Selling at Primerica

In other Primerica news, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the sale, the director directly owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. This represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total transaction of $649,125.00. Following the transaction, the chief executive officer owned 33,892 shares in the company, valued at $8,800,057.80. This represents a 6.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,200 shares of company stock worth $1,338,225 in the last three months. 0.61% of the stock is currently owned by company insiders.

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.