Oregon Public Employees Retirement Fund Has $1.84 Million Holdings in Primerica, Inc. (NYSE:PRI)

Oregon Public Employees Retirement Fund lessened its position in shares of Primerica, Inc. (NYSE:PRI) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,778 shares of the financial services provider’s stock after selling 142 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Primerica were worth $1,840,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRI. Prospera Private Wealth LLC acquired a new stake in Primerica during the 3rd quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new stake in Primerica during the 4th quarter valued at approximately $33,000. Larson Financial Group LLC increased its position in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 54 shares during the period. Venturi Wealth Management LLC increased its position in Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the period. Finally, UMB Bank n.a. increased its position in Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Up 2.0 %

Shares of PRI opened at $289.86 on Friday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The business’s fifty day moving average is $282.64 and its 200 day moving average is $277.96. The stock has a market cap of $9.67 billion, a P/E ratio of 21.08 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.44%. Primerica’s dividend payout ratio (DPR) is 30.25%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley reduced their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler reduced their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and an average target price of $309.86.

About Primerica

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.