Primerica, Inc. $PRI Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its holdings in shares of Primerica, Inc. (NYSE:PRI) by 68.5% in the second quarter, HoldingsChannel.com reports. The firm owned 704 shares of the financial services provider’s stock after selling 1,533 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Primerica were worth $196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRI. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Primerica by 7.2% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 9,339 shares of the financial services provider’s stock worth $2,556,000 after buying an additional 625 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Primerica by 1.4% in the 2nd quarter. Intech Investment Management LLC now owns 13,304 shares of the financial services provider’s stock worth $3,641,000 after acquiring an additional 180 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Primerica by 431.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,950 shares of the financial services provider’s stock worth $2,449,000 after acquiring an additional 7,267 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Primerica by 11.4% during the 2nd quarter. SG Americas Securities LLC now owns 1,522 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 156 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Primerica by 5.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the financial services provider’s stock valued at $2,310,000 after buying an additional 465 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total value of $510,600.00. Following the completion of the transaction, the president directly owned 7,301 shares of the company’s stock, valued at $1,863,945.30. This represents a 21.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total transaction of $649,125.00. Following the completion of the transaction, the chief executive officer owned 33,892 shares in the company, valued at $8,800,057.80. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is owned by insiders.

Primerica Trading Down 1.9%

Shares of NYSE:PRI opened at $258.13 on Tuesday. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91. The company’s 50 day moving average is $265.67 and its two-hundred day moving average is $266.88. The company has a market cap of $8.24 billion, a PE ratio of 11.86 and a beta of 0.96.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.52 by $0.81. The firm had revenue of $838.88 million during the quarter, compared to the consensus estimate of $817.81 million. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.83 earnings per share. As a group, equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica announced that its Board of Directors has approved a stock buyback program on Wednesday, November 19th that authorizes the company to buyback $475.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, November 21st. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s payout ratio is presently 19.12%.

Wall Street Analyst Weigh In

PRI has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Primerica in a research report on Wednesday, October 8th. Jefferies Financial Group cut their price objective on Primerica from $293.00 to $283.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Morgan Stanley reduced their price objective on Primerica from $306.00 to $301.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. Finally, Piper Sandler set a $292.00 target price on Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $309.00.

Primerica 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.