Aster Capital Management DIFC Ltd Invests $99,000 in Primerica, Inc. (NYSE:PRI)

Aster Capital Management DIFC Ltd acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 363 shares of the financial services provider’s stock, valued at approximately $99,000.

Other institutional investors also recently bought and sold shares of the company. Dana Investment Advisors Inc. increased its position in shares of Primerica by 1.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock valued at $1,012,000 after purchasing an additional 45 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Primerica by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider’s stock valued at $301,000 after buying an additional 54 shares during the last quarter. Assetmark Inc. raised its position in Primerica by 3.9% in the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 57 shares during the period. Everhart Financial Group Inc. boosted its stake in shares of Primerica by 2.5% during the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 65 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Primerica by 27.3% during the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

PRI stock opened at $244.07 on Wednesday. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The business has a 50 day simple moving average of $282.15 and a two-hundred day simple moving average of $282.28. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 17.75 and a beta of 1.03.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.70%. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s payout ratio is 30.25%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Piper Sandler cut their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $309.86.

Insider Buying and Selling

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,234 shares of company stock worth $1,476,575. Corporate insiders own 0.85% of the company’s stock.

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.