Ritholtz Wealth Management Purchases 12,382 Shares of Primerica, Inc. $PRI

Ritholtz Wealth Management raised its holdings in shares of Primerica, Inc. (NYSE:PRI) by 255.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,228 shares of the financial services provider’s stock after purchasing an additional 12,382 shares during the quarter. Ritholtz Wealth Management owned 0.05% of Primerica worth $4,782,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hilltop National Bank acquired a new position in Primerica during the 2nd quarter valued at about $31,000. Quent Capital LLC bought a new position in shares of Primerica in the third quarter valued at approximately $33,000. Cullen Frost Bankers Inc. purchased a new position in shares of Primerica during the second quarter valued at approximately $33,000. First Horizon Advisors Inc. grew 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 buying an additional 120 shares in the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Primerica by 108.5% during the second quarter. AdvisorNet Financial Inc now owns 148 shares of the financial services provider’s stock worth $41,000 after buying an additional 77 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Trading Down 0.7%

Shares of NYSE PRI opened at $266.02 on Friday. Primerica, Inc. has a 1-year low of $230.98 and a 1-year high of $298.75. The stock has a fifty day simple moving average of $258.85 and a two-hundred day simple moving average of $264.58. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 12.23 and a beta of 0.90.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping 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%.The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.83 EPS. Analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

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

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRI shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Primerica in a report on Monday, December 29th. Piper Sandler set a $292.00 price target on shares of Primerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Morgan Stanley set a $292.00 target price on Primerica in a research note on Monday, December 15th. BMO Capital Markets raised Primerica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $292.00 to $318.00 in a report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $300.00.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $255.30, for a total value of $510,600.00. Following the completion of the transaction, the president directly owned 7,301 shares in the company, valued at approximately $1,863,945.30. The trade was a 21.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 33,892 shares in the company, valued at $8,800,057.80. The trade was a 6.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 5,200 shares of company stock worth $1,338,225. 0.61% of the stock is owned by corporate insiders.

Primerica Profile

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.