Proficio Capital Partners LLC Buys Shares of 21,612 Primerica, Inc. (NYSE:PRI)

Proficio Capital Partners LLC bought a new stake in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, HoldingsChannel.com reports. The fund bought 21,612 shares of the financial services provider’s stock, valued at approximately $5,866,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Los Angeles Capital Management LLC grew its position in Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after acquiring an additional 11,612 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Primerica by 7.1% in the fourth quarter. IFP Advisors Inc now owns 1,164 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 77 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Primerica by 75.2% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 4,383 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 1,882 shares during the period. JLB & Associates Inc. lifted its holdings in Primerica by 4.7% during the 4th quarter. JLB & Associates Inc. now owns 19,762 shares of the financial services provider’s stock valued at $5,364,000 after buying an additional 883 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in Primerica in the 4th quarter valued at about $1,441,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. BMO Capital Markets started coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Morgan Stanley dropped their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research report on Friday. Truist Financial lifted their price objective on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, 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 report on Wednesday, December 18th. Six investment 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 currently has a consensus rating of “Hold” and an average price target of $309.86.

Primerica Trading Down 0.3 %

PRI opened at $289.10 on Tuesday. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 21.03 and a beta of 1.11. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a fifty day moving average price of $283.02 and a 200-day moving average price of $278.50.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be given a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.44%. Primerica’s dividend payout ratio is presently 30.25%.

Primerica declared that its board has initiated a stock buyback plan on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.85% of the stock is owned by insiders.

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.