Primerica, Inc. $PRI Stock Position Decreased by Brave Warrior Advisors LLC

Brave Warrior Advisors LLC trimmed its position in shares of Primerica, Inc. (NYSE:PRI) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 752,989 shares of the financial services provider’s stock after selling 71,003 shares during the quarter. Primerica makes up about 4.9% of Brave Warrior Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Brave Warrior Advisors LLC owned approximately 2.36% of Primerica worth $209,022,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PRI. Bank of America Corp DE raised its position in Primerica by 11.0% during the third quarter. Bank of America Corp DE now owns 66,052 shares of the financial services provider’s stock valued at $18,335,000 after acquiring an additional 6,547 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Primerica in the third quarter worth approximately $322,000. Algert Global LLC grew its position in Primerica by 16.8% in the third quarter. Algert Global LLC now owns 27,721 shares of the financial services provider’s stock worth $7,695,000 after acquiring an additional 3,990 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Primerica by 2.2% during the 3rd quarter. Alliancebernstein L.P. now owns 44,347 shares of the financial services provider’s stock worth $12,310,000 after purchasing an additional 953 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Primerica by 49.7% during the 3rd quarter. Creative Planning now owns 8,626 shares of the financial services provider’s stock worth $2,394,000 after purchasing an additional 2,864 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total value of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares of the company’s stock, valued at approximately $7,023,582.72. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares in the company, valued at $2,930,384.18. The trade was a 13.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is owned by corporate insiders.

Primerica Stock Up 0.0%

NYSE:PRI opened at $249.14 on Friday. The company’s 50 day moving average is $259.90 and its 200-day moving average is $262.54. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $296.00. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 10.87 and a beta of 0.92.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.44. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The business had revenue of $853.51 million during the quarter, compared to the consensus estimate of $839.65 million. During the same period in the prior year, the firm earned $5.03 EPS. Primerica’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its Board of Directors has approved 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 repurchase up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date was Monday, February 23rd. Primerica’s dividend payout ratio is currently 20.93%.

Analysts Set New Price Targets

Several research firms recently issued reports on PRI. Morgan Stanley reduced their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. TD Cowen reissued a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $298.60.

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.