Versor Investments LP Sells 393 Shares of Primerica, Inc. (NYSE:PRI)

Versor Investments LP lowered its stake in Primerica, Inc. (NYSE:PRI) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,463 shares of the financial services provider’s stock after selling 393 shares during the quarter. Versor Investments LP’s holdings in Primerica were worth $940,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PRI. International Assets Investment Management LLC lifted its stake in Primerica by 359,742.9% in the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after buying an additional 25,182 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Primerica by 78.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,960 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 862 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Primerica in the third quarter worth $208,000. Janney Montgomery Scott LLC lifted its position in shares of Primerica by 2.9% in the third quarter. Janney Montgomery Scott LLC now owns 10,243 shares of the financial services provider’s stock worth $2,716,000 after purchasing an additional 292 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Primerica by 8.9% in the third quarter. Harbor Capital Advisors Inc. now owns 9,966 shares of the financial services provider’s stock worth $2,642,000 after purchasing an additional 817 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 2.1 %

Shares of PRI opened at $284.16 on Friday. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 20.67 and a beta of 1.11. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The company’s fifty day simple moving average is $282.28 and its 200 day simple moving average is $277.70.

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

Primerica declared that its board has approved a stock buyback plan on Thursday, November 14th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically an indication 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. Shareholders of record on Friday, February 21st will be issued a $1.04 dividend. This is an increase 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 is Friday, February 21st. Primerica’s payout ratio is currently 30.25%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’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 transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

PRI has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $311.14.

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.