Farther Finance Advisors LLC Has $480,000 Stock Position in Primerica, Inc. (NYSE:PRI)

Farther Finance Advisors LLC increased its stake in Primerica, Inc. (NYSE:PRI) by 341.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,769 shares of the financial services provider’s stock after acquiring an additional 1,368 shares during the quarter. Farther Finance Advisors LLC’s holdings in Primerica were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its stake in Primerica by 11.8% in the third quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider’s stock valued at $387,000 after buying an additional 154 shares during the period. GSA Capital Partners LLP acquired a new position in Primerica in the third quarter valued at approximately $228,000. OneDigital Investment Advisors LLC lifted its stake in Primerica by 1.6% in the third quarter. OneDigital Investment Advisors LLC now owns 5,430 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 86 shares during the period. CIBC Asset Management Inc lifted its stake in Primerica by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after buying an additional 36 shares during the period. Finally, Quest Partners LLC lifted its stake in Primerica by 730.6% in the third quarter. Quest Partners LLC now owns 14,453 shares of the financial services provider’s stock valued at $3,832,000 after buying an additional 12,713 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Trading Up 3.3 %

Shares of Primerica stock opened at $285.76 on Monday. The stock has a fifty day simple moving average of $284.60 and a 200 day simple moving average of $279.81. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The company has a market capitalization of $9.50 billion, a P/E ratio of 20.78 and a beta of 1.12.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.46%. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 30.25%.

Wall Street Analysts Forecast Growth

PRI has been the topic of several recent analyst reports. TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Morgan Stanley lowered their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Primerica has an average rating of “Hold” and an average target price of $309.86.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last quarter. 0.85% of the stock is currently owned by company insiders.

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.