Universal Beteiligungs und Servicegesellschaft mbH Increases Stock Holdings in Primerica, Inc. $PRI

Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Primerica, Inc. (NYSE:PRI) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,339 shares of the financial services provider’s stock after buying an additional 625 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Primerica were worth $2,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PRI. Hilltop National Bank bought a new stake in Primerica in the 2nd quarter worth about $31,000. Cullen Frost Bankers Inc. bought a new position in shares of Primerica in the second quarter valued at approximately $33,000. First Horizon Advisors Inc. lifted its holdings in Primerica by 1,714.3% during the second quarter. First Horizon Advisors Inc. now owns 127 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 120 shares during the period. AdvisorNet Financial Inc boosted its position in Primerica by 108.5% in the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 77 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 1.9%

Primerica stock opened at $258.13 on Tuesday. The firm has a 50 day simple moving average of $265.67 and a 200 day simple moving average of $266.88. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $307.91. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 11.86 and a beta of 0.96.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.52 by $0.81. The firm had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. Primerica had a return on equity of 31.75% and a net margin of 22.36%.The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.83 earnings per share. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica declared that its board has authorized a stock repurchase program on Wednesday, November 19th that permits the company to repurchase $475.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 21st. Primerica’s payout ratio is presently 19.12%.

Insider Activity

In related news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the transaction, the chief executive officer owned 33,892 shares of the company’s stock, valued at approximately $8,800,057.80. The trade was a 6.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the sale, the president owned 7,301 shares in the company, valued at $1,863,945.30. This represents a 21.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. BMO Capital Markets raised shares of Primerica from a “market perform” rating to an “outperform” rating and increased their target price for the company from $292.00 to $318.00 in a research report on Tuesday, September 23rd. Zacks Research upgraded shares of Primerica from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Jefferies Financial Group dropped their price objective on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Primerica presently has an average rating of “Moderate Buy” and a consensus target price of $309.00.

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.