Prospector Partners LLC Has $1.87 Million Stock Holdings in Primerica, Inc. $PRI

Prospector Partners LLC lessened its stake in Primerica, Inc. (NYSE:PRI) by 89.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,245 shares of the financial services provider’s stock after selling 62,429 shares during the quarter. Primerica makes up about 4.0% of Prospector Partners LLC’s investment portfolio, making the stock its 10th largest position. Prospector Partners LLC’s holdings in Primerica were worth $1,872,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PRI. Smartleaf Asset Management LLC lifted its holdings in shares of Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Primerica in the fourth quarter worth $30,000. Torren Management LLC purchased a new position in shares of Primerica in the fourth quarter worth $50,000. Hantz Financial Services Inc. lifted its holdings in shares of Primerica by 18.1% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the financial services provider’s stock worth $66,000 after buying an additional 39 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Primerica in the fourth quarter worth $67,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Zacks Research downgraded shares of Primerica from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Morgan Stanley boosted their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $297.80.

Primerica Stock Down 0.0%

Primerica stock opened at $281.87 on Monday. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 11.82 and a beta of 0.88. The firm’s fifty day moving average is $271.75 and its 200 day moving average is $262.68. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $288.03.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. Primerica’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.02 earnings per share. On average, equities research analysts anticipate that Primerica, Inc. will post 24.45 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Primerica’s dividend payout ratio is presently 20.13%.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.