Crossmark Global Holdings Inc. Has $1.95 Million Stake in Primerica, Inc. (NYSE:PRI)

Crossmark Global Holdings Inc. boosted its position in Primerica, Inc. (NYSE:PRI) by 53.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,178 shares of the financial services provider’s stock after buying an additional 2,498 shares during the period. Crossmark Global Holdings Inc.’s holdings in Primerica were worth $1,948,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PRI. Millennium Management LLC lifted its holdings in Primerica by 30,726.7% in the second quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider’s stock valued at $161,102,000 after buying an additional 678,752 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Primerica by 2,986.9% during the second quarter. Squarepoint Ops LLC now owns 32,104 shares of the financial services provider’s stock valued at $7,595,000 after purchasing an additional 31,064 shares during the period. Geode Capital Management LLC raised its holdings in shares of Primerica by 3.9% during the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after purchasing an additional 25,951 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Primerica by 359,742.9% during the third quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after purchasing an additional 25,182 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in shares of Primerica during the fourth quarter valued at about $5,236,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at $10,942,728.94. This represents a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods dropped their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Primerica currently has an average rating of “Hold” and an average target price of $304.14.

Primerica Stock Performance

Shares of PRI stock opened at $291.61 on Friday. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The company has a 50-day simple moving average of $285.42 and a two-hundred day simple moving average of $270.64. The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of 22.28 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. During the same period in the prior year, the firm posted $4.28 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Primerica, Inc. will post 19.75 EPS for the current fiscal year.

Primerica declared that its board has authorized a share buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Primerica Announces Dividend

The business also recently announced 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. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 21st. Primerica’s dividend payout ratio is currently 27.50%.

Primerica Company Profile

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.