Strs Ohio Has $219,000 Stock Holdings in Primerica, Inc. $PRI

Strs Ohio reduced its stake in Primerica, Inc. (NYSE:PRI) by 88.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 788 shares of the financial services provider’s stock after selling 5,760 shares during the period. Strs Ohio’s holdings in Primerica were worth $219,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Olympiad Research LP grew its stake in Primerica by 3.9% in the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock valued at $290,000 after buying an additional 40 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in Primerica by 1.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 45 shares during the period. Ascent Group LLC increased its position in Primerica by 6.5% during the 3rd quarter. Ascent Group LLC now owns 836 shares of the financial services provider’s stock worth $232,000 after buying an additional 51 shares during the period. Vident Advisory LLC grew its stake in shares of Primerica by 3.2% in the second quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 55 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Primerica by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,844 shares of the financial services provider’s stock valued at $6,252,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PRI shares. Weiss Ratings cut shares of Primerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, January 21st. Piper Sandler set a $292.00 price objective on Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, Morgan Stanley set a $292.00 price target on Primerica in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $300.00.

Insider Activity

In other news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the sale, the president directly owned 7,301 shares of the company’s stock, valued at approximately $1,863,945.30. This trade represents a 21.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total value of $649,125.00. Following the completion of the transaction, the chief executive officer directly owned 33,892 shares of the company’s stock, valued at $8,800,057.80. This represents a 6.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,200 shares of company stock worth $1,338,225. Insiders own 0.61% of the company’s stock.

Primerica Stock Up 0.6%

NYSE:PRI opened at $264.50 on Tuesday. The firm has a market capitalization of $8.44 billion, a PE ratio of 12.16 and a beta of 0.91. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $298.75. The stock’s 50-day simple moving average is $259.47 and its 200 day simple moving average is $263.74.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.52 by $0.81. The company had revenue of $838.88 million for the quarter, compared to the consensus estimate of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $4.83 EPS. On average, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 21st were issued a dividend of $1.04 per share. The ex-dividend date was Friday, November 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. Primerica’s dividend payout ratio is 19.12%.

Primerica declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 19th that authorizes the company to buyback $475.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.