Mirabella Financial Services LLP Buys 7,217 Shares of Primerica, Inc. $PRI

Mirabella Financial Services LLP grew its stake in Primerica, Inc. (NYSE:PRI) by 226.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,407 shares of the financial services provider’s stock after acquiring an additional 7,217 shares during the period. Mirabella Financial Services LLP’s holdings in Primerica were worth $2,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Root Financial Partners LLC bought a new position in Primerica in the 3rd quarter valued at $27,000. Smartleaf Asset Management LLC raised its position in shares of Primerica by 186.5% during the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 69 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Primerica during the third quarter valued at $33,000. Hantz Financial Services Inc. lifted its stake in shares of Primerica by 620.0% during the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 186 shares during the period. Finally, MAI Capital Management boosted its holdings in Primerica by 160.9% in the second quarter. MAI Capital Management now owns 227 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 140 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings upgraded Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Morgan Stanley lowered their price target on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Finally, Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Primerica has an average rating of “Hold” and an average target price of $298.60.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the sale, the president directly owned 11,611 shares in the company, valued at approximately $2,930,384.18. The trade was a 13.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $256.41, for a total transaction of $641,025.00. Following the sale, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This trade represents a 8.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.61% of the stock is owned by company insiders.

Primerica Trading Up 0.3%

Shares of Primerica stock opened at $249.96 on Tuesday. The stock’s fifty day simple moving average is $259.65 and its 200 day simple moving average is $262.36. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $296.00. The company has a market capitalization of $7.91 billion, a PE ratio of 10.90 and a beta of 0.92.

Primerica (NYSE:PRI) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.69 by $0.44. The firm had revenue of $853.51 million for the quarter, compared to the consensus estimate of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $5.03 EPS. Analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio (DPR) is 20.93%.

Primerica declared that its board has authorized a share buyback plan on Wednesday, November 19th that authorizes the company to repurchase $475.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically 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.