Quantessence Capital LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Quantessence Capital LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 973 shares of the financial services provider’s stock, valued at approximately $264,000.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Primerica during the 4th quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its position in shares of Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 71 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Primerica by 65.5% in 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 period. Finally, Bessemer Group Inc. grew its stake in Primerica by 182.2% in the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 164 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Price Performance

PRI opened at $254.43 on Wednesday. The firm has a market capitalization of $8.42 billion, a PE ratio of 18.50 and a beta of 1.03. The business’s 50-day moving average is $274.26 and its two-hundred day moving average is $281.32. Primerica, Inc. has a 1 year low of $211.53 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.64%. Primerica’s dividend payout ratio (DPR) is 30.25%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRI. StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Finally, Morgan Stanley reduced their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Primerica currently has an average rating of “Hold” and a consensus price target of $309.14.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, 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 is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 in the last three months. 0.61% of the stock is owned by insiders.

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.