Strs Ohio Has $219,000 Stock Position in Primerica, Inc. $PRI

Strs Ohio lowered its position in Primerica, Inc. (NYSE:PRI) by 88.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 788 shares of the financial services provider’s stock after selling 5,760 shares during the period. Strs Ohio’s holdings in Primerica were worth $219,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Atria Investments Inc raised its holdings in shares of Primerica by 27.6% during the second quarter. Atria Investments Inc now owns 12,650 shares of the financial services provider’s stock valued at $3,462,000 after purchasing an additional 2,740 shares during the period. Nordea Investment Management AB bought a new stake in Primerica in the 3rd quarter valued at about $51,004,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Primerica by 115.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 11,774 shares of the financial services provider’s stock worth $3,268,000 after buying an additional 6,300 shares during the period. Aviva PLC bought a new position in Primerica in the second quarter worth approximately $514,000. Finally, Moran Wealth Management LLC acquired a new stake in Primerica in the third quarter valued at approximately $2,121,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRI has been the topic of a number of recent research reports. Morgan Stanley set a $292.00 price target on shares of Primerica in a research report on Monday, December 15th. Weiss Ratings downgraded shares of Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, Piper Sandler set a $292.00 target price on Primerica and gave the company a “neutral” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.00.

Primerica Stock Up 0.6%

Primerica stock opened at $264.50 on Tuesday. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $298.75. The company’s 50 day moving average price is $259.47 and its two-hundred day moving average price is $263.74. The stock has a market cap of $8.44 billion, a P/E ratio of 12.16 and a beta of 0.91.

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

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were given a dividend of $1.04 per share. The ex-dividend date was Friday, November 21st. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s dividend payout ratio is presently 19.12%.

Primerica declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 19th that allows the company to buyback $475.00 million in shares. This buyback authorization allows the financial services provider to buy up to 5.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Joel M. Babbit sold 700 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the sale, the director owned 8,400 shares in the company, valued at approximately $2,142,000. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $8,800,057.80. The trade was a 6.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,200 shares of company stock worth $1,338,225. Insiders own 0.61% of the company’s stock.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.