Mirabella Financial Services LLP Invests $1.62 Million in Primerica, Inc. (NYSE:PRI)

Mirabella Financial Services LLP acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,979 shares of the financial services provider’s stock, valued at approximately $1,622,000.

A number of other institutional investors also recently bought and sold shares of PRI. Geode Capital Management LLC increased its position 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 valued at $211,691,000 after purchasing an additional 82,921 shares during the last quarter. FIL Ltd grew its position in Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after buying an additional 60,565 shares during the period. Raymond James Financial Inc. purchased a new stake in Primerica during the fourth quarter valued at approximately $34,191,000. Los Angeles Capital Management LLC raised its position in Primerica by 10.7% in the fourth 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 during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Primerica by 11.4% during the 4th quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider’s stock worth $31,840,000 after acquiring an additional 11,996 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of NYSE:PRI opened at $254.05 on Monday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 18.48 and a beta of 1.03. The firm has a fifty day moving average price of $275.50 and a 200 day moving average price of $281.70. Primerica, Inc. has a fifty-two week low of $211.53 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS 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%. As a group, research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current 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 paid a $1.04 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.64%. Primerica’s payout ratio is presently 30.25%.

Insider Transactions at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were 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 in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % 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 in the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PRI. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. BMO Capital Markets began 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. Morgan Stanley lowered their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus price target of $309.14.

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.