Proficio Capital Partners LLC Purchases Shares of 21,612 Primerica, Inc. (NYSE:PRI)

Proficio Capital Partners LLC acquired a new position in Primerica, Inc. (NYSE:PRI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,612 shares of the financial services provider’s stock, valued at approximately $5,866,000. Proficio Capital Partners LLC owned 0.06% of Primerica as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in Primerica during the third quarter valued at approximately $31,000. Golden State Wealth Management LLC bought a new stake in shares of Primerica during the 4th quarter valued at $33,000. Larson Financial Group LLC increased its stake in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 115 shares during the period. Finally, UMB Bank n.a. lifted its position in Primerica by 65.5% during the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’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 transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of analyst reports. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target for the company. Morgan Stanley reduced their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday. Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, TD Cowen lifted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $309.86.

Primerica Price Performance

Primerica stock opened at $289.10 on Tuesday. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91. The firm’s 50 day moving average price is $283.02 and its 200-day moving average price is $278.50. The stock has a market cap of $9.65 billion, a P/E ratio of 21.03 and a beta of 1.11.

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 return on equity of 31.11% and a net margin of 15.14%. As a group, equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

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

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be paid a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

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.