Trexquant Investment LP Grows Position in Primerica, Inc. (NYSE:PRI)

Trexquant Investment LP raised its position in Primerica, Inc. (NYSE:PRI) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,870 shares of the financial services provider’s stock after acquiring an additional 3,787 shares during the quarter. Trexquant Investment LP owned approximately 0.10% of Primerica worth $9,464,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the last quarter. Barclays PLC lifted its holdings in Primerica by 108.1% during the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock worth $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC acquired a new position in shares of Primerica during the 4th quarter worth about $543,000. Oak Thistle LLC increased its holdings in shares of Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of 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 worth $32,573,000 after acquiring an additional 11,612 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Primerica stock opened at $291.20 on Thursday. The business has a 50 day simple moving average of $286.07 and a 200-day simple moving average of $282.49. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a market capitalization of $9.68 billion, a PE ratio of 21.18 and a beta of 1.12.

Primerica (NYSE:PRI) last released 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, equities research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 30.25%.

Insiders Place Their Bets

In related news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,234 shares of company stock worth $1,476,575. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

PRI has been the subject of a number of research analyst reports. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley dropped their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, BMO Capital Markets assumed 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $309.86.

About Primerica

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.