Robertson Stephens Wealth Management LLC Acquires 224 Shares of Primerica, Inc. (NYSE:PRI)

Robertson Stephens Wealth Management LLC grew its holdings in Primerica, Inc. (NYSE:PRI) by 15.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,686 shares of the financial services provider’s stock after purchasing an additional 224 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Primerica were worth $458,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Primerica in the 3rd quarter valued at about $31,000. Prospera Private Wealth LLC bought a new position in shares of Primerica in the 3rd quarter valued at about $31,000. UMB Bank n.a. boosted its stake in shares of Primerica by 85.9% in the 3rd quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Larson Financial Group LLC boosted its stake in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 54 shares during the last quarter. Finally, Quarry LP grew its holdings in Primerica by 629.2% during the third quarter. Quarry LP now owns 350 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 302 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Up 0.2 %

Primerica stock opened at $296.91 on Friday. The stock has a market capitalization of $9.91 billion, a PE ratio of 22.68 and a beta of 1.11. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The company has a 50 day moving average of $283.49 and a 200-day moving average of $274.17.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.28 earnings per share. Equities analysts anticipate that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

Primerica announced that its Board of Directors has approved a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PRI shares. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and an average price target of $304.14.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 36,322 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

About Primerica

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.