Farther Finance Advisors LLC Acquires 1,368 Shares of Primerica, Inc. (NYSE:PRI)

Farther Finance Advisors LLC raised its holdings in shares of Primerica, Inc. (NYSE:PRI) by 341.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,769 shares of the financial services provider’s stock after acquiring an additional 1,368 shares during the quarter. Farther Finance Advisors LLC’s holdings in Primerica were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc grew its stake in shares of Primerica by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 36 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Primerica by 0.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 43 shares in the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Primerica by 1.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after buying an additional 45 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Primerica by 3.9% in the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock valued at $412,000 after buying an additional 57 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PRI. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. TD Cowen raised their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Morgan Stanley decreased their target price 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. Piper Sandler decreased their target price 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, Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $309.86.

Primerica Stock Performance

Shares of NYSE PRI opened at $285.76 on Monday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock has a market capitalization of $9.50 billion, a P/E ratio of 20.78 and a beta of 1.12. The stock’s fifty day moving average is $284.60 and its 200 day moving average is $279.81.

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

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s payout ratio is 30.25%.

Insider Transactions at Primerica

In other news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated 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 directly owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,234 shares of company stock worth $1,476,575. Insiders own 0.85% of the company’s stock.

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.