OneDigital Investment Advisors LLC Increases Stock Position in Primerica, Inc. (NYSE:PRI)

OneDigital Investment Advisors LLC raised its position in Primerica, Inc. (NYSE:PRI) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,430 shares of the financial services provider’s stock after acquiring an additional 86 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Primerica were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL raised its position in Primerica by 24.5% during the 1st quarter. Blair William & Co. IL now owns 12,159 shares of the financial services provider’s stock valued at $3,076,000 after purchasing an additional 2,393 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Primerica by 456.8% in the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock worth $2,164,000 after acquiring an additional 7,506 shares during the period. Edgestream Partners L.P. bought a new stake in Primerica in the first quarter valued at $979,000. Susquehanna Fundamental Investments LLC bought a new position in Primerica in the 2nd quarter worth $3,514,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Primerica in the 2nd quarter worth about $893,000. 90.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRI. Truist Financial boosted their price target on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler initiated coverage on Primerica in a report on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley upped their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, TD Cowen began coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $288.33.

Primerica Price Performance

Shares of NYSE:PRI opened at $298.61 on Monday. The company has a market capitalization of $9.96 billion, a PE ratio of 22.81 and a beta of 1.08. The business has a fifty day moving average price of $273.65 and a 200-day moving average price of $251.41. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $304.84.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the previous year, the company earned $4.28 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 21st. Primerica’s payout ratio is 27.50%.

Primerica declared that its board has authorized a share repurchase plan on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at approximately $2,678,727.49. This trade represents a 12.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $1,803,175 over the last quarter. 0.85% of the stock is currently owned by insiders.

Primerica Company 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.