Brant Point Investment Management LLC Buys Shares of 26,000 Primerica, Inc. (NYSE:PRI)

Brant Point Investment Management LLC bought a new position in Primerica, Inc. (NYSE:PRI - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 26,000 shares of the financial services provider's stock, valued at approximately $7,057,000. Primerica makes up about 0.9% of Brant Point Investment Management LLC's portfolio, making the stock its 16th largest holding. Brant Point Investment Management LLC owned 0.08% of Primerica at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Barclays PLC grew its holdings in shares of Primerica by 108.1% during the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC acquired a new position in shares of Primerica in the fourth quarter valued at about $543,000. Oak Thistle LLC raised its stake in shares of Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider's stock worth $1,340,000 after purchasing an additional 1,943 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Primerica by 59.4% during the fourth quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock worth $30,323,000 after purchasing an additional 41,612 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after buying an additional 11,612 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PRI. Keefe, Bruyette & Woods decreased their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley cut their price target 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 Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, BMO Capital Markets assumed coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $309.14.

Primerica Price Performance

NYSE PRI traded up $4.88 on Wednesday, hitting $259.64. The company had a trading volume of 44,246 shares, compared to its average volume of 158,699. The company's fifty day moving average price is $274.26 and its 200-day moving average price is $281.32. The company has a market capitalization of $8.59 billion, a PE ratio of 18.88 and a beta of 1.03. Primerica, Inc. has a 12-month low of $211.53 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share 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%. On average, sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.60%. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica's payout ratio is presently 30.25%.

Insider Activity at Primerica

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 value of $65,555.10. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the company's stock in a transaction dated 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 directly owns 13,301 shares of the company's stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.61% of the stock is owned by insiders.

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.