WCM Investment Management LLC Sells 977 Shares of Primerica, Inc. (NYSE:PRI)

WCM Investment Management LLC cut its holdings in shares of Primerica, Inc. (NYSE:PRI) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 76,117 shares of the financial services provider’s stock after selling 977 shares during the period. WCM Investment Management LLC’s holdings in Primerica were worth $20,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRI. V Square Quantitative Management LLC acquired a new position in Primerica in the 3rd quarter valued at $31,000. Prospera Private Wealth LLC acquired a new position in shares of Primerica in the 3rd quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $33,000. UMB Bank n.a. increased its stake in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in Primerica by 56.8% during the third 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 in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRI has been the topic of several recent analyst reports. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets started coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. Truist Financial upped their price objective on shares of Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $304.14.

Primerica Price Performance

Primerica stock opened at $296.91 on Friday. The stock’s 50 day moving average is $283.37 and its 200 day moving average is $274.49. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The firm has a market cap of $9.91 billion, a P/E ratio of 22.68 and a beta of 1.11.

Primerica (NYSE:PRI) last issued its quarterly earnings results 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 firm had revenue of $774.13 million for the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the company earned $4.28 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts anticipate that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica declared that its board has authorized a share repurchase program on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the sale, the chief executive officer now owns 36,322 shares in the company, valued at $10,942,728.94. The trade was a 7.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.85% of the company’s stock.

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.