Y Intercept Hong Kong Ltd Raises Stock Position in Primerica, Inc. (NYSE:PRI)

Y Intercept Hong Kong Ltd grew its holdings in Primerica, Inc. (NYSE:PRI) by 75.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,383 shares of the financial services provider’s stock after purchasing an additional 1,882 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Primerica were worth $1,190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Prospera Private Wealth LLC acquired a new stake in Primerica during the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Primerica during the fourth quarter worth $33,000. Larson Financial Group LLC raised 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 acquiring an additional 54 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the period. Finally, UMB Bank n.a. grew its stake in Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is owned by company insiders.

Primerica Trading Up 0.6 %

Shares of Primerica stock opened at $278.45 on Thursday. The company has a fifty day simple moving average of $281.93 and a 200-day simple moving average of $277.65. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 20.25 and a beta of 1.11. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data 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 return on equity of 31.11% and a net margin of 15.14%. On average, analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica announced that its board has approved a stock buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.49%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 30.25%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PRI. Piper Sandler reduced their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Truist Financial raised their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. TD Cowen raised 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. Finally, Morgan Stanley boosted their target price on shares of Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus target price of $311.14.

Primerica 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.