Flputnam Investment Management Co. Has $641,000 Stake in Primerica, Inc. (NYSE:PRI)

Flputnam Investment Management Co. lessened its position in Primerica, Inc. (NYSE:PRI) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,362 shares of the financial services provider’s stock after selling 58 shares during the period. Flputnam Investment Management Co.’s holdings in Primerica were worth $641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the third quarter worth about $31,000. Golden State Wealth Management LLC acquired a new stake in Primerica during the 4th quarter worth approximately $33,000. Larson Financial Group LLC boosted its position in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the period. Venturi Wealth Management LLC grew its holdings in Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 115 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Primerica by 65.5% in 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 during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on 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 directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRI has been the topic of a number of recent research reports. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Primerica currently has an average rating of “Hold” and an average target price of $309.86.

Primerica Trading Down 0.3 %

PRI stock opened at $289.10 on Tuesday. The firm has a market cap of $9.65 billion, a PE ratio of 21.03 and a beta of 1.11. The stock has a 50-day moving average price of $283.02 and a 200-day moving average price of $278.50. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica announced that its Board of Directors has approved a stock buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid 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 a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 30.25%.

About Primerica

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.