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

Prospector Partners LLC lifted its stake in Primerica, Inc. (NYSE:PRI) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,198 shares of the financial services provider’s stock after buying an additional 143 shares during the period. Primerica comprises 2.3% of Prospector Partners LLC’s portfolio, making the stock its 7th biggest holding. Prospector Partners LLC’s holdings in Primerica were worth $20,953,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Primerica in the 4th quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares during the period. Venturi Wealth Management LLC boosted its stake in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after buying an additional 115 shares in the last quarter. UMB Bank n.a. increased its holdings in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after buying an additional 95 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Primerica by 27.3% in the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after buying an additional 71 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of NYSE:PRI opened at $248.16 on Friday. The business has a fifty day moving average of $284.91 and a 200-day moving average of $282.56. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The firm has a market cap of $8.25 billion, a PE ratio of 18.05 and a beta of 1.12.

Primerica (NYSE:PRI) last posted its quarterly earnings data 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%. On average, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now directly 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 at the SEC website. 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 owns 13,301 shares of the company’s stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler decreased 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. Morgan Stanley decreased 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. BMO Capital Markets assumed 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. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Primerica currently has an average 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.