Golden State Wealth Management LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Golden State Wealth Management LLC bought a new position in Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 123 shares of the financial services provider’s stock, valued at approximately $33,000.

Several other institutional investors also recently modified their holdings of PRI. V Square Quantitative Management LLC purchased a new position in Primerica in the third quarter worth $31,000. Prospera Private Wealth LLC bought a new stake in shares of Primerica during the 3rd quarter worth $31,000. UMB Bank n.a. boosted its holdings in shares of Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after buying an additional 67 shares during the last quarter. Larson Financial Group LLC grew its position in Primerica by 56.8% during 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 during the period. Finally, Quarry LP increased its holdings in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after buying an additional 302 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRI. BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Piper Sandler reduced their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Keefe, Bruyette & Woods dropped their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Truist Financial increased their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $304.14.

Primerica Trading Down 0.8 %

Shares of Primerica stock opened at $290.74 on Wednesday. The company’s 50-day moving average price is $283.22 and its 200-day moving average price is $275.15. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The company has a market cap of $9.70 billion, a price-to-earnings ratio of 22.21 and a beta of 1.11.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. On average, sell-side analysts predict that Primerica, Inc. will post 19.79 earnings per share for the current year.

Primerica declared that its board has approved a stock buyback program on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

About Primerica

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.