Primerica, Inc. $PRI Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in Primerica, Inc. (NYSE:PRI) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 88,453 shares of the financial services provider’s stock after selling 2,091 shares during the period. Rhumbline Advisers owned about 0.27% of Primerica worth $24,554,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PRI. Olympiad Research LP lifted its stake in Primerica by 3.9% in the second quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 40 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in Primerica by 1.2% in the second quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC grew its position in shares of Primerica by 6.5% in the 3rd quarter. Ascent Group LLC now owns 836 shares of the financial services provider’s stock valued at $232,000 after buying an additional 51 shares during the last quarter. Vident Advisory LLC boosted its stake in Primerica by 3.2% during the 2nd quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 55 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in Primerica by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,844 shares of the financial services provider’s stock valued at $6,252,000 after acquiring an additional 60 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In other news, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction dated 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 transaction, the director owned 8,400 shares of the company’s stock, valued at $2,142,000. This represents a 7.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent research reports. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Morgan Stanley set a $292.00 target price on shares of Primerica in a research report on Monday, December 15th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $300.00.

Primerica Trading Up 0.3%

NYSE:PRI opened at $250.91 on Tuesday. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $296.00. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 10.94 and a beta of 0.91. The company’s 50-day moving average is $260.78 and its two-hundred day moving average is $263.51.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.69 by $0.44. The business had revenue of $853.51 million during the quarter, compared to analyst estimates of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.03 earnings per share. On average, equities research analysts forecast 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 buyback plan on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.9%. This is a boost from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date is Monday, February 23rd. Primerica’s dividend payout ratio (DPR) is currently 18.14%.

About Primerica

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.