Y Intercept Hong Kong Ltd Purchases New Holdings in Primerica, Inc. $PRI

Y Intercept Hong Kong Ltd acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,670 shares of the financial services provider’s stock, valued at approximately $1,019,000.

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

Primerica Stock Up 0.3%

NYSE:PRI opened at $262.81 on Monday. The company’s 50 day moving average is $259.35 and its 200-day moving average is $263.76. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $298.75. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 12.08 and a beta of 0.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.52 by $0.81. The business had revenue of $838.88 million for the quarter, compared to analyst estimates of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. Primerica’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $4.83 EPS. Research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its board has approved 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 purchase up to 5.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Primerica Dividend Announcement

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

Insider Transactions at Primerica

In other news, Director Joel M. Babbit sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $2,142,000. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $255.30, for a total value of $510,600.00. Following the completion of the sale, the president directly owned 7,301 shares of the company’s stock, valued at $1,863,945.30. This represents a 21.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,200 shares of company stock worth $1,338,225. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings lowered Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 21st. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. TD Cowen reaffirmed a “buy” rating on shares of Primerica in a research report on Wednesday. Finally, Piper Sandler set a $292.00 target price on shares of Primerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.00.

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.