Aigen Investment Management LP Sells 1,162 Shares of Primerica, Inc. (NYSE:PRI)

Aigen Investment Management LP trimmed its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 41.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,649 shares of the financial services provider's stock after selling 1,162 shares during the quarter. Aigen Investment Management LP's holdings in Primerica were worth $448,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PRI. Prospera Private Wealth LLC acquired a new position in Primerica during the third quarter worth $31,000. Golden State Wealth Management LLC acquired a new position in Primerica during the 4th quarter worth about $33,000. Larson Financial Group LLC grew its position in Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Primerica by 116.2% during the fourth 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 during the period. Finally, UMB Bank n.a. lifted its position in shares of Primerica by 65.5% during the fourth 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. Institutional investors and hedge funds own 90.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRI. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. TD Cowen lifted their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Morgan Stanley cut their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $309.86.

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Primerica Stock Performance

Shares of NYSE:PRI traded down $0.46 during mid-day trading on Monday, hitting $280.57. 21,415 shares of the company traded hands, compared to its average volume of 139,651. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The firm's 50 day simple moving average is $283.93 and its 200 day simple moving average is $279.17. The firm has a market cap of $9.33 billion, a P/E ratio of 20.39 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating 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%. Equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. Primerica's payout ratio is 30.25%.

Primerica announced that its board has authorized a share buyback program on Thursday, November 14th that permits the company to buyback $450.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares of the company's stock, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. 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. Company insiders own 0.85% of the company's stock.

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.