Impact Capital Partners LLC Takes Position in Primerica, Inc. (NYSE:PRI)

Impact Capital Partners LLC acquired a new stake in Primerica, Inc. (NYSE:PRI) in the fourth quarter, Holdings Channel reports. The firm acquired 4,185 shares of the financial services provider’s stock, valued at approximately $1,136,000.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Primerica during the 4th quarter worth approximately $34,191,000. Los Angeles Capital Management LLC lifted its position in shares of Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after buying an additional 11,612 shares in the last quarter. Prospector Partners LLC lifted its position in shares of Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock worth $20,431,000 after buying an additional 210 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Primerica by 0.5% during the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock worth $16,965,000 after buying an additional 333 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. Insiders own 0.85% of the company’s stock.

Primerica Trading Down 0.1 %

Primerica stock opened at $277.39 on Thursday. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 20.17 and a beta of 1.12. The firm has a 50 day simple moving average of $284.31 and a 200 day simple moving average of $279.39.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating 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, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are 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 issued a dividend of $1.04 per share. This is an increase from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s payout ratio is currently 30.25%.

Analyst Ratings Changes

PRI has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler decreased their price target 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. Finally, TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Primerica currently has a consensus rating of “Hold” and an average price target of $309.86.

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.