Barclays PLC grew its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 108.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,471 shares of the financial services provider's stock after purchasing an additional 10,635 shares during the period. Barclays PLC owned 0.06% of Primerica worth $5,428,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its position in shares of Primerica by 72.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,501 shares of the financial services provider's stock worth $663,000 after purchasing an additional 1,050 shares during the period. XTX Topco Ltd bought a new position in Primerica during the 3rd quarter worth $1,187,000. iSAM Funds UK Ltd acquired a new stake in Primerica in the third quarter worth $745,000. Jane Street Group LLC lifted its stake in Primerica by 6.3% in the third quarter. Jane Street Group LLC now owns 30,806 shares of the financial services provider's stock valued at $8,168,000 after buying an additional 1,830 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Primerica by 0.5% during the third quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider's stock valued at $16,965,000 after acquiring an additional 333 shares during the period. 90.88% of the stock is currently owned by institutional investors.
NYSE PRI opened at $271.50 on Friday. The firm has a market capitalization of $9.06 billion, a PE ratio of 20.74 and a beta of 1.09. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The company's 50 day simple moving average is $287.63 and its 200 day simple moving average is $262.91.
Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $774.13 million for the quarter, compared to analysts' expectations of $745.25 million. During the same period last year, the firm earned $4.28 EPS. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Primerica, Inc. will post 19.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.33%. Primerica's dividend payout ratio (DPR) is 27.50%.
Primerica declared that its board has authorized a stock repurchase program on Thursday, November 14th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.
A number of analysts recently weighed in on PRI shares. StockNews.com raised shares of Primerica from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday. TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Truist Financial raised their target price on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $296.33.
Get Our Latest Stock Analysis on PRI
In other news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company's stock.
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.
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