Logan Capital Management Inc. Has $11.64 Million Position in Primerica, Inc. (NYSE:PRI)

Logan Capital Management Inc. cut its holdings in Primerica, Inc. (NYSE:PRI) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,880 shares of the financial services provider’s stock after selling 604 shares during the quarter. Logan Capital Management Inc. owned about 0.13% of Primerica worth $11,635,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CIBC Asset Management Inc increased its position in shares of Primerica by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 36 shares in the last quarter. Creative Planning increased its holdings in Primerica by 0.7% during the 3rd quarter. Creative Planning now owns 6,083 shares of the financial services provider’s stock worth $1,613,000 after purchasing an additional 40 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of 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 purchasing an additional 43 shares during the period. Larson Financial Group LLC lifted its holdings in shares of 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 purchasing an additional 54 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 60 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Stock Up 0.1 %

Shares of NYSE:PRI traded up $0.26 during midday trading on Friday, hitting $284.80. The stock had a trading volume of 4,867 shares, compared to its average volume of 152,024. The company has a market capitalization of $9.50 billion, a P/E ratio of 21.72 and a beta of 1.09. The company’s 50-day moving average price is $287.60 and its 200-day moving average price is $260.86. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The firm had revenue of $774.13 million during the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the prior year, the company earned $4.28 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts expect that Primerica, Inc. will post 19.32 EPS for the current fiscal year.

Primerica announced that its board has approved a stock repurchase program 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 purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Primerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is presently 27.50%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. The trade was a 7.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Truist Financial boosted 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. TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler assumed coverage on Primerica in a research report on Friday, August 30th. They set a “neutral” rating and a $283.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.50.

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.