Summit Trail Advisors LLC Buys 185 Shares of Primerica, Inc. (NYSE:PRI)

Summit Trail Advisors LLC increased its position in Primerica, Inc. (NYSE:PRI) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,764 shares of the financial services provider’s stock after purchasing an additional 185 shares during the period. Summit Trail Advisors LLC’s holdings in Primerica were worth $479,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Primerica in the third quarter worth approximately $31,000. Prospera Private Wealth LLC purchased a new position in Primerica in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new position in Primerica in the 4th quarter worth approximately $33,000. UMB Bank n.a. lifted its position in Primerica by 85.9% in the 3rd 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 in the last quarter. Finally, Larson Financial Group LLC boosted its stake 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 last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Down 0.8 %

NYSE PRI opened at $290.74 on Wednesday. The company has a 50-day moving average price of $283.22 and a 200-day moving average price of $275.15. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The firm has a market capitalization of $9.70 billion, a P/E ratio of 22.21 and a beta of 1.11.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 14.95% and a return on equity of 30.93%. As a group, equities research analysts anticipate that Primerica, Inc. will post 19.79 EPS for the current year.

Primerica declared that its board has authorized a stock buyback 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 usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

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

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.