EntryPoint Capital LLC Purchases New Position in Primerica, Inc. (NYSE:PRI)

EntryPoint Capital LLC acquired a new position in Primerica, Inc. (NYSE:PRI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,049 shares of the financial services provider’s stock, valued at approximately $556,000.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Primerica in the 4th quarter worth about $34,191,000. SVB Wealth LLC purchased a new position in Primerica during the 4th quarter valued at about $10,703,000. Strategic Financial Concepts LLC purchased a new stake in Primerica in the fourth quarter worth about $8,767,000. Amundi bought a new position in shares of Primerica during the fourth quarter valued at approximately $7,868,000. Finally, Geode Capital Management LLC boosted its position in shares of Primerica by 3.9% in 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 in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Up 2.6 %

Shares of NYSE PRI opened at $292.05 on Tuesday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 21.24 and a beta of 1.12. The firm has a 50 day moving average of $286.20 and a 200 day moving average of $280.98.

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 return on equity of 31.11% and a net margin of 15.14%. Sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.42%. This is an increase 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 at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised 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. Piper Sandler lowered their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Morgan Stanley reduced their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, TD Cowen raised their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $309.86.

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.