Primerica, Inc. (NYSE:PRI) Shares Purchased by Prospector Partners LLC

Prospector Partners LLC raised its holdings in Primerica, Inc. (NYSE:PRI) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,198 shares of the financial services provider’s stock after acquiring an additional 143 shares during the quarter. Primerica accounts for about 2.3% of Prospector Partners LLC’s portfolio, making the stock its 7th biggest holding. Prospector Partners LLC owned 0.23% of Primerica worth $20,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Primerica in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 71 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares during the period. UMB Bank n.a. lifted its position in shares of Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 95 shares in the last quarter. Finally, Quarry LP boosted its stake in Primerica by 629.2% in the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 302 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PRI shares. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, 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 research note on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Down 9.9 %

Shares of PRI opened at $248.16 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The company’s fifty day moving average is $284.91 and its 200-day moving average is $282.56. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 18.05 and a beta of 1.12.

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

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s payout ratio is 30.25%.

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.