Running Oak Capital LLC Raises Stake in Primerica, Inc. (NYSE:PRI)

Running Oak Capital LLC raised its stake in Primerica, Inc. (NYSE:PRI) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,340 shares of the financial services provider’s stock after buying an additional 5,169 shares during the quarter. Primerica makes up approximately 1.8% of Running Oak Capital LLC’s investment portfolio, making the stock its 24th largest position. Running Oak Capital LLC’s holdings in Primerica were worth $9,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PRI. ORG Partners LLC acquired a new position in shares of Primerica in the 4th quarter valued at $26,000. Arlington Trust Co LLC acquired a new position in shares of Primerica in the 3rd quarter valued at $25,000. LWM Advisory Services LLC acquired a new position in shares of Primerica in the 3rd quarter valued at $26,000. Sound Income Strategies LLC lifted its stake in shares of Primerica by 121.9% in the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 128 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Primerica in the 4th quarter valued at $133,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Morgan Stanley increased their target price on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Truist Financial increased their target price on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $245.50.

Insiders Place Their Bets

In other Primerica news, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the sale, the president now directly owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,708 shares of company stock valued at $1,648,677. 0.85% of the stock is owned by company insiders.

Primerica Stock Up 1.8 %

NYSE:PRI traded up $3.83 during mid-day trading on Thursday, reaching $219.34. 159,345 shares of the stock were exchanged, compared to its average volume of 161,968. The company has a 50 day simple moving average of $238.89 and a 200-day simple moving average of $222.99. The stock has a market capitalization of $7.61 billion, a P/E ratio of 13.57 and a beta of 1.10. Primerica, Inc. has a 1 year low of $173.00 and a 1 year high of $256.56.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.27 by ($0.02). The firm had revenue of $726.34 million for the quarter, compared to analysts’ expectations of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 EPS. As a group, research analysts predict that Primerica, Inc. will post 17.78 EPS for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. This is a boost from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, February 20th. Primerica’s dividend payout ratio (DPR) is presently 18.89%.

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.