Bryce Point Capital LLC Purchases New Stake in Primerica, Inc. (NYSE:PRI)

Bryce Point Capital LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,910 shares of the financial services provider's stock, valued at approximately $518,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dana Investment Advisors Inc. lifted its stake in shares of Primerica by 1.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider's stock worth $1,012,000 after purchasing an additional 45 shares during the period. CIBC Asset Management Inc increased its stake in Primerica by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 54 shares during the last quarter. Assetmark Inc. lifted its position in Primerica by 3.9% during the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after buying an additional 57 shares during the period. Everhart Financial Group Inc. boosted its stake in Primerica by 2.5% in the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider's stock worth $726,000 after buying an additional 65 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Primerica by 27.3% in the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider's stock valued at $97,000 after buying an additional 71 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction, the president now directly owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 in the last 90 days. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRI. Morgan Stanley cut their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods increased 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. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective for the company. Finally, Piper Sandler reduced their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $309.86.

Primerica Stock Down 2.1 %

Shares of Primerica stock traded down $5.30 during trading hours on Monday, hitting $243.02. The company's stock had a trading volume of 141,364 shares, compared to its average volume of 167,884. The business has a fifty day moving average of $284.91 and a 200 day moving average of $282.75. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The company has a market capitalization of $8.04 billion, a PE ratio of 17.57 and a beta of 1.03.

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

Primerica Increases Dividend

The business 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. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.71%. Primerica's payout ratio is 30.25%.

Primerica 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.