Dynamic Technology Lab Private Ltd lessened its stake in shares of Primerica, Inc. (NYSE:PRI – Free Report) by 68.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,649 shares of the financial services provider’s stock after selling 5,821 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Primerica were worth $545,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. ORG Partners LLC purchased a new stake in Primerica in the 4th quarter worth about $26,000. Sound Income Strategies LLC lifted its stake in shares of Primerica by 121.9% during the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after buying an additional 128 shares in the last quarter. GAMMA Investing LLC purchased a new position in Primerica in the 4th quarter valued at approximately $133,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Primerica by 144.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 803 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 474 shares during the period. Finally, Mutual Advisors LLC purchased a new position in shares of Primerica in the fourth quarter valued at $206,000. Institutional investors own 90.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on PRI shares. Truist Financial raised their target price on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Morgan Stanley increased their target price on shares of Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Raymond James cut shares of Primerica from a “strong-buy” rating to a “market perform” rating in a report on Monday, February 12th. Finally, Keefe, Bruyette & Woods increased their price objective on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $245.50.
Read Our Latest Report on PRI
Insider Activity at Primerica
In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the sale, the insider now directly owns 100 shares of the company’s stock, valued at $24,981. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Gregory C. Pitts sold 3,759 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $245.43, for a total transaction of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares in the company, valued at $829,307.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the sale, the insider now owns 100 shares of the company’s stock, valued at approximately $24,981. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,993 shares of company stock valued at $1,687,302. Insiders own 0.85% of the company’s stock.
Primerica Stock Performance
Primerica stock opened at $227.58 on Friday. Primerica, Inc. has a fifty-two week low of $180.65 and a fifty-two week high of $256.56. The firm’s fifty day moving average price is $230.85 and its 200-day moving average price is $225.66. The stock has a market cap of $7.83 billion, a P/E ratio of 13.85 and a beta of 1.10.
Primerica (NYSE:PRI – Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing the consensus estimate of $4.12 by ($0.21). The firm had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. Primerica’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.49 earnings per share. On average, analysts predict that Primerica, Inc. will post 17.55 earnings per share for the current year.
Primerica Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.32%. Primerica’s dividend payout ratio (DPR) is 18.26%.
Primerica Profile
(Free Report)
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.
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