Orion Portfolio Solutions LLC Sells 68 Shares of Primerica, Inc. (NYSE:PRI)

Orion Portfolio Solutions LLC decreased its holdings in Primerica, Inc. (NYSE:PRI) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,143 shares of the financial services provider’s stock after selling 68 shares during the period. Orion Portfolio Solutions LLC’s holdings in Primerica were worth $1,099,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PRI. ORG Partners LLC bought a new stake in shares of Primerica in the second quarter worth $30,000. V Square Quantitative Management LLC acquired a new position in Primerica in the third quarter valued at $31,000. Prospera Private Wealth LLC acquired a new position in Primerica in the third quarter valued at $31,000. UMB Bank n.a. lifted its holdings in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares during the period. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 1.2 %

Shares of NYSE PRI opened at $281.16 on Friday. The firm’s 50-day moving average price is $287.74 and its 200-day moving average price is $261.23. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The firm has a market capitalization of $9.38 billion, a P/E ratio of 21.48 and a beta of 1.09.

Primerica (NYSE:PRI) last posted its 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. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the prior year, the business posted $4.28 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Primerica, Inc. will post 19.32 EPS for the current year.

Primerica announced that its board has authorized 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 buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.90 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.28%. Primerica’s dividend payout ratio is presently 27.50%.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRI. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Truist Financial boosted their target price on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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 report on Monday, August 19th. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 target price on the stock. Finally, TD Cowen upped 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. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $293.50.

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.