Kingsview Wealth Management LLC Raises Holdings in Primerica, Inc. (NYSE:PRI)

Kingsview Wealth Management LLC lifted its holdings in Primerica, Inc. (NYSE:PRI) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,840 shares of the financial services provider’s stock after purchasing an additional 43 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Primerica were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC bought a new position in Primerica during the 2nd quarter valued at about $30,000. V Square Quantitative Management LLC purchased a new position in shares of Primerica during the third quarter valued at approximately $31,000. Prospera Private Wealth LLC purchased a new position in shares of Primerica during the third quarter valued at approximately $31,000. UMB Bank n.a. lifted its position in Primerica by 85.9% during the third 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 period. Finally, Blue Trust Inc. boosted its holdings in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 60 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now directly owns 15,151 shares of the company’s stock, valued at approximately $3,846,081.35. This trade represents a 11.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PRI shares. Morgan Stanley boosted their target price on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. TD Cowen assumed coverage on Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 price objective for the company. Piper Sandler initiated coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Truist Financial raised their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Primerica currently has a consensus rating of “Hold” and a consensus price target of $288.33.

Primerica Stock Up 0.6 %

PRI stock opened at $303.40 on Tuesday. The business’s 50-day moving average price is $279.11 and its 200-day moving average price is $255.03. The stock has a market cap of $10.12 billion, a P/E ratio of 23.18 and a beta of 1.08. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $305.90.

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

Primerica announced that its board has approved a share repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.19%. Primerica’s dividend payout ratio is presently 27.50%.

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.