13,993 Shares in Primerica, Inc. (NYSE:PRI) Bought by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Primerica, Inc. (NYSE:PRI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,993 shares of the financial services provider’s stock, valued at approximately $3,710,000.

Several other large investors have also recently made changes to their positions in PRI. Harbor Capital Advisors Inc. grew its position in Primerica by 456.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,149 shares of the financial services provider’s stock valued at $2,164,000 after buying an additional 7,506 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Primerica in the second quarter valued at about $3,514,000. SG Americas Securities LLC bought a new position in shares of Primerica during the 2nd quarter valued at approximately $893,000. International Assets Investment Management LLC increased its stake in shares of Primerica by 359,742.9% during the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock worth $6,679,000 after purchasing an additional 25,182 shares during the last quarter. Finally, JLB & Associates Inc. raised its holdings in shares of Primerica by 45.5% in the 3rd quarter. JLB & Associates Inc. now owns 18,879 shares of the financial services provider’s stock worth $5,006,000 after purchasing an additional 5,908 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on PRI. Morgan Stanley increased their price objective on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler began coverage on shares of Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 price target on the stock. TD Cowen started coverage on shares of Primerica in a research note on Wednesday, October 9th. They issued a “buy” rating and a $314.00 price objective for the company. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $288.33.

Insider Activity

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 12.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares in the company, valued at $10,942,728.94. This trade represents a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,500 shares of company stock worth $1,803,175. 0.61% of the stock is currently owned by corporate insiders.

Primerica Stock Down 1.1 %

Primerica stock opened at $294.65 on Thursday. The business has a 50-day simple moving average of $275.46 and a 200 day simple moving average of $252.80. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $304.84. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. Primerica’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.28 earnings per share. On average, research analysts anticipate that Primerica, Inc. will post 19.12 earnings per share for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is currently 27.50%.

Primerica declared that its board has approved a stock buyback plan on Thursday, November 14th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.