Avior Wealth Management LLC Sells 340 Shares of Primerica, Inc. (NYSE:PRI)

Avior Wealth Management LLC lessened its holdings in shares of Primerica, Inc. (NYSE:PRI) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,588 shares of the financial services provider’s stock after selling 340 shares during the period. Avior Wealth Management LLC’s holdings in Primerica were worth $1,245,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PRI. CIBC Asset Management Inc grew its holdings in shares of Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after buying an additional 36 shares during the period. Creative Planning lifted its position in Primerica by 0.7% in the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock valued at $1,613,000 after acquiring an additional 40 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after acquiring an additional 43 shares in the last quarter. Larson Financial Group LLC lifted its position in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in Primerica by 1.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 6,271 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity at Primerica

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 transaction, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This represents a 7.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial boosted their price target on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $304.14.

Primerica Stock Performance

Shares of PRI stock opened at $289.80 on Friday. The firm’s 50-day moving average is $285.15 and its 200-day moving average is $271.18. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 22.14 and a beta of 1.11. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million for the quarter, compared to analysts’ expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. Primerica’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.28 EPS. Sell-side analysts predict that Primerica, Inc. will post 19.79 EPS for the current fiscal year.

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

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 1.24%. Primerica’s payout ratio is 27.50%.

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.