Versor Investments LP Has $940,000 Holdings in Primerica, Inc. (NYSE:PRI)

Versor Investments LP cut its holdings in Primerica, Inc. (NYSE:PRI) by 10.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,463 shares of the financial services provider’s stock after selling 393 shares during the period. Versor Investments LP’s holdings in Primerica were worth $940,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after acquiring an additional 11,612 shares in the last quarter. Prospector Partners LLC grew its stake in shares of Primerica by 0.3% in the third quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after acquiring an additional 210 shares in the last quarter. Stifel Financial Corp lifted its position in Primerica by 0.5% during the third quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock worth $16,965,000 after purchasing an additional 333 shares during the period. Finally, Running Oak Capital LLC lifted its position in Primerica by 3.7% during the fourth quarter. Running Oak Capital LLC now owns 53,644 shares of the financial services provider’s stock worth $14,560,000 after purchasing an additional 1,919 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Primerica Trading Up 2.1 %

PRI stock opened at $284.16 on Friday. The stock has a market capitalization of $9.48 billion, a P/E ratio of 20.67 and a beta of 1.11. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The firm has a 50-day moving average price of $282.28 and a 200-day moving average price of $277.70.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, equities analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica declared that its board has initiated a stock buyback plan on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 annualized dividend and a dividend yield of 1.46%. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is currently 30.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley upped their price objective on shares of Primerica from $308.00 to $313.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.