BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Primerica, Inc. (NYSE:PRI)

BI Asset Management Fondsmaeglerselskab A S bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 28,710 shares of the financial services provider's stock, valued at approximately $7,792,000. BI Asset Management Fondsmaeglerselskab A S owned 0.09% of Primerica at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRI. Golden State Wealth Management LLC bought a new position in shares of Primerica in the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC increased its position in Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after buying an additional 71 shares during the period. Venturi Wealth Management LLC lifted its holdings 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 worth $58,000 after buying an additional 115 shares during the last quarter. UMB Bank n.a. boosted its position 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 acquiring an additional 95 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of 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 acquiring an additional 164 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Stock Up 2.3 %

PRI traded up $6.04 during midday trading on Thursday, reaching $263.13. 105,146 shares of the company's stock were exchanged, compared to its average volume of 158,702. Primerica, Inc. has a one year low of $211.53 and a one year high of $307.91. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 19.14 and a beta of 1.03. The business has a 50-day simple moving average of $273.78 and a two-hundred day simple moving average of $281.15.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results 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 return on equity of 31.11% and a net margin of 15.14%. As a group, research analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This is a positive change from Primerica's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.58%. Primerica's dividend payout ratio is presently 30.25%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company's stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last quarter. 0.61% of the stock is owned by corporate insiders.

Primerica Company 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.