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

Proficio Capital Partners LLC purchased a new stake in Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 21,612 shares of the financial services provider’s stock, valued at approximately $5,866,000. Proficio Capital Partners LLC owned 0.06% of Primerica at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PRI. Prospera Private Wealth LLC bought a new stake in Primerica during the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new stake in Primerica during the 4th quarter worth approximately $33,000. Larson Financial Group LLC increased its stake in Primerica by 56.8% during the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares in the last quarter. Venturi Wealth Management LLC increased its stake 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 purchasing an additional 115 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 95 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the chief executive officer now directly 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 90 days, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. TD Cowen increased their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Up 3.3 %

NYSE PRI opened at $285.76 on Monday. The company has a market cap of $9.50 billion, a PE ratio of 20.78 and a beta of 1.12. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a 50 day moving average of $284.60 and a 200-day moving average of $279.81.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is presently 30.25%.

About Primerica

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.