Bridgewater Associates LP Sells 4,774 Shares of Primerica, Inc. (NYSE:PRI)

Bridgewater Associates LP trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI) by 16.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,129 shares of the financial services provider’s stock after selling 4,774 shares during the quarter. Bridgewater Associates LP owned approximately 0.07% of Primerica worth $6,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PRI. ORG Partners LLC bought a new position in Primerica in the 2nd quarter worth $30,000. V Square Quantitative Management LLC purchased a new stake in Primerica in the third quarter worth about $31,000. Prospera Private Wealth LLC bought a new position in shares of Primerica in the third quarter worth about $31,000. UMB Bank n.a. lifted its position in shares of Primerica by 85.9% during the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Primerica by 56.8% during the 3rd 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 during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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. This trade represents a 7.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the transaction, the director now owns 15,151 shares in the company, valued at $3,846,081.35. This trade represents a 11.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Primerica Trading Down 0.3 %

Shares of Primerica stock opened at $303.37 on Friday. The firm has a market cap of $10.12 billion, a PE ratio of 23.18 and a beta of 1.08. The stock has a 50 day moving average of $282.86 and a 200 day moving average of $256.83. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same period in the prior year, the company earned $4.28 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.

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

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.19%. Primerica’s dividend payout ratio (DPR) is presently 27.50%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRI shares. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial lifted their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley raised their price target on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Piper Sandler started coverage on Primerica in a research note on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Finally, StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and an average target price of $293.50.

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.