Amalgamated Bank Cuts Stock Holdings in Primerica, Inc. (NYSE:PRI)

Amalgamated Bank lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,922 shares of the financial services provider’s stock after selling 246 shares during the period. Amalgamated Bank’s holdings in Primerica were worth $4,322,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in Primerica during the third quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter valued at $33,000. Larson Financial Group LLC lifted its holdings in shares of Primerica by 56.8% during the 3rd 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 in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent research reports. TD Cowen lifted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Morgan Stanley reduced their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $309.86.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

Primerica Price Performance

Shares of PRI stock opened at $289.86 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The firm has a market capitalization of $9.67 billion, a P/E ratio of 21.08 and a beta of 1.11. The company’s fifty day moving average price is $282.64 and its two-hundred day moving average price is $277.96.

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

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a $1.04 dividend. The ex-dividend date is Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is presently 30.25%.

Primerica announced that its board has authorized a stock buyback program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.