Atria Investments Inc Buys 785 Shares of Primerica, Inc. (NYSE:PRI)

Atria Investments Inc lifted its stake in shares of Primerica, Inc. (NYSE:PRI) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,735 shares of the financial services provider’s stock after purchasing an additional 785 shares during the quarter. Atria Investments Inc’s holdings in Primerica were worth $2,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Assetmark Inc. boosted its position in shares of Primerica by 3.9% during the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 57 shares in the last quarter. Victory Capital Management Inc. lifted its position in Primerica by 16.5% in the 4th quarter. Victory Capital Management Inc. now owns 46,303 shares of the financial services provider’s stock valued at $12,568,000 after acquiring an additional 6,561 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Primerica by 15.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,047 shares of the financial services provider’s stock valued at $556,000 after acquiring an additional 268 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Primerica by 163.7% in the 4th quarter. Jones Financial Companies Lllp now owns 981 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 609 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in Primerica in the 4th quarter valued at about $10,703,000. Institutional investors own 90.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $309.86.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 in the last quarter. Insiders own 0.85% of the company’s stock.

Primerica Stock Performance

NYSE:PRI opened at $280.74 on Monday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 20.42 and a beta of 1.12. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The firm has a 50-day moving average price of $283.93 and a two-hundred day moving average price of $279.17.

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

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.48%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Primerica declared that its board has approved a stock buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Primerica Company 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.