Empowered Funds LLC Has $985,000 Stock Holdings in Primerica, Inc. (NYSE:PRI)

Empowered Funds LLC lessened its holdings in Primerica, Inc. (NYSE:PRIGet Rating) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,981 shares of the financial services provider’s stock after selling 114 shares during the period. Empowered Funds LLC’s holdings in Primerica were worth $985,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its position in Primerica by 6.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,149,476 shares of the financial services provider’s stock worth $496,651,000 after purchasing an additional 241,400 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in shares of Primerica by 2.1% during the second quarter. Burgundy Asset Management Ltd. now owns 1,286,132 shares of the financial services provider’s stock worth $153,937,000 after buying an additional 26,215 shares in the last quarter. State Street Corp increased its holdings in shares of Primerica by 0.6% during the second quarter. State Street Corp now owns 1,112,658 shares of the financial services provider’s stock worth $133,174,000 after buying an additional 6,390 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Primerica by 123.8% during the third quarter. Victory Capital Management Inc. now owns 637,066 shares of the financial services provider’s stock worth $78,645,000 after buying an additional 352,377 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Primerica by 24.8% during the second quarter. Millennium Management LLC now owns 452,728 shares of the financial services provider’s stock worth $54,187,000 after buying an additional 90,050 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

Primerica Price Performance

PRI opened at $154.07 on Wednesday. Primerica, Inc. has a one year low of $110.22 and a one year high of $159.47. The company’s 50 day simple moving average is $144.06 and its 200-day simple moving average is $135.24. The stock has a market capitalization of $5.69 billion, a P/E ratio of 21.73 and a beta of 1.20.

Primerica (NYSE:PRIGet Rating) last released its quarterly earnings results on Tuesday, November 8th. The financial services provider reported $3.02 EPS for the quarter, beating the consensus estimate of $3.00 by $0.02. Primerica had a net margin of 10.01% and a return on equity of 22.96%. The business had revenue of $673.29 million for the quarter, compared to analysts’ expectations of $675.99 million. During the same period in the prior year, the firm earned $2.98 earnings per share. Primerica’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts anticipate that Primerica, Inc. will post 10.91 EPS for the current year.

Primerica announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 17th that allows the company to repurchase $375.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 22nd were paid a $0.55 dividend. The ex-dividend date was Monday, November 21st. This represents a $2.20 dividend on an annualized basis and a yield of 1.43%. Primerica’s payout ratio is presently 31.03%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 4,000 shares of Primerica stock in a transaction on Monday, November 21st. The shares were sold at an average price of $142.38, for a total transaction of $569,520.00. Following the transaction, the chief executive officer now directly owns 54,215 shares of the company’s stock, valued at $7,719,131.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Primerica news, CFO Alison S. Rand sold 1,500 shares of Primerica stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $145.47, for a total value of $218,205.00. Following the sale, the chief financial officer now directly owns 10,933 shares in the company, valued at approximately $1,590,423.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 4,000 shares of Primerica stock in a transaction on Monday, November 21st. The shares were sold at an average price of $142.38, for a total transaction of $569,520.00. Following the completion of the sale, the chief executive officer now owns 54,215 shares in the company, valued at $7,719,131.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,000 shares of company stock valued at $1,295,890. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on PRI shares. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Morgan Stanley raised their price objective on shares of Primerica from $137.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th. Finally, William Blair lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a report on Thursday, November 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $164.25.

About Primerica

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Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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