Primerica, Inc. $PRI Stake Lessened by Callan Family Office LLC

Callan Family Office LLC lessened its stake in shares of Primerica, Inc. (NYSE:PRI) by 7.9% during the third quarter, Holdings Channel.com reports. The fund owned 30,818 shares of the financial services provider’s stock after selling 2,629 shares during the period. Callan Family Office LLC’s holdings in Primerica were worth $8,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PRI. Root Financial Partners LLC acquired a new position in shares of Primerica during the 3rd quarter valued at $27,000. Hilltop National Bank acquired a new stake in shares of Primerica in the second quarter valued at $31,000. Quent Capital LLC bought a new position in Primerica during the third quarter valued at about $33,000. Cullen Frost Bankers Inc. acquired a new position in Primerica during the second quarter worth about $33,000. Finally, First Horizon Advisors Inc. raised its position in Primerica by 1,714.3% in the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of NYSE:PRI opened at $264.50 on Tuesday. The company has a market cap of $8.44 billion, a PE ratio of 12.16 and a beta of 0.91. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $298.75. The firm has a 50 day simple moving average of $259.47 and a 200 day simple moving average of $263.74.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.52 by $0.81. The firm 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 company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.83 EPS. On average, equities analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica announced that its Board of Directors has initiated a share repurchase 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 generally a sign that the company’s leadership believes its stock is undervalued.

Primerica Announces Dividend

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

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the sale, the chief executive officer directly owned 33,892 shares in the company, valued at approximately $8,800,057.80. This trade represents a 6.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $255.30, for a total value of $510,600.00. Following the transaction, the president directly owned 7,301 shares in the company, valued at approximately $1,863,945.30. This trade represents a 21.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,200 shares of company stock valued at $1,338,225. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. TD Cowen restated a “buy” rating on shares of Primerica in a report on Wednesday, January 28th. Zacks Research upgraded shares of Primerica from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Weiss Ratings cut Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 21st. Finally, Piper Sandler set a $292.00 price objective on Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $300.00.

Primerica Company 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.