Primerica, Inc. (NYSE:PRI) Shares Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC boosted its stake in shares of Primerica, Inc. (NYSE:PRI) by 14.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,428 shares of the financial services provider’s stock after purchasing an additional 7,851 shares during the quarter. Lighthouse Investment Partners LLC owned approximately 0.19% of Primerica worth $16,944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its position in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 10,635 shares during the period. Sylvest Advisors LLC acquired a new position in Primerica during the 4th quarter valued at approximately $543,000. Oak Thistle LLC boosted its position in Primerica by 64.9% during the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 1,943 shares during the period. California Public Employees Retirement System boosted its position in Primerica by 59.4% during the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider’s stock valued at $30,323,000 after purchasing an additional 41,612 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after purchasing an additional 11,612 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

PRI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Morgan Stanley reduced their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $309.14.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction on 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 in the company, valued at $3,762,852.90. This trade represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 over the last three months. Company insiders own 0.61% of the company’s stock.

Primerica Stock Down 1.3%

Shares of Primerica stock opened at $268.55 on Monday. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 19.53 and a beta of 1.02. The business has a fifty day simple moving average of $269.75 and a 200-day simple moving average of $280.16. Primerica, Inc. has a fifty-two week low of $219.52 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.25. The business had revenue of $803.56 million during the quarter, compared to analyst estimates of $783.54 million. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.91 earnings per share. Analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica’s dividend payout ratio (DPR) is presently 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.