Brant Point Investment Management LLC Takes Position in Primerica, Inc. (NYSE:PRI)

Brant Point Investment Management LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,000 shares of the financial services provider’s stock, valued at approximately $7,057,000. Primerica comprises about 0.9% of Brant Point Investment Management LLC’s portfolio, making the stock its 16th biggest position. Brant Point Investment Management LLC owned about 0.08% of Primerica at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PRI. Golden State Wealth Management LLC purchased a new stake in Primerica during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Primerica by 116.2% during the 4th 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 during the last quarter. UMB Bank n.a. increased its stake in Primerica by 65.5% during the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Primerica by 182.2% during the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 164 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the business’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 directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last three months. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on PRI shares. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Morgan Stanley reduced their target price 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, BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Primerica currently has a consensus rating of “Hold” and an average target price of $309.14.

Primerica Stock Down 0.4 %

Shares of PRI stock opened at $254.05 on Friday. The company has a market capitalization of $8.41 billion, a P/E ratio of 18.48 and a beta of 1.03. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a 50-day moving average price of $276.24 and a 200 day moving average price of $281.58.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (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%. As a group, research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 30.25%.

Primerica 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.