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

Trexquant Investment LP grew its position in Primerica, Inc. (NYSE:PRI) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,870 shares of the financial services provider’s stock after buying an additional 3,787 shares during the quarter. Trexquant Investment LP’s holdings in Primerica were worth $9,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Primerica during the fourth quarter worth about $34,191,000. Geode Capital Management LLC increased its stake in shares of Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after purchasing an additional 82,921 shares in the last quarter. California Public Employees Retirement System raised its position in shares of 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 worth $30,323,000 after purchasing an additional 41,612 shares during the last quarter. SVB Wealth LLC purchased a new stake in Primerica in the 4th quarter valued at approximately $10,703,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Primerica during the 4th quarter valued at $8,767,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Price Performance

Shares of Primerica stock opened at $291.20 on Thursday. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The company has a market capitalization of $9.68 billion, a PE ratio of 21.18 and a beta of 1.12. The business has a 50-day moving average of $286.07 and a 200-day moving average of $282.49.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, equities analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PRI shares. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. Piper Sandler decreased their price target 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. Morgan Stanley cut their price objective on shares of 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, Keefe, Bruyette & Woods raised their price objective on Primerica from $315.00 to $320.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $309.86.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction that occurred 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 owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. 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 ninety days. Corporate insiders own 0.61% of the company’s stock.

Primerica Company 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.