Dynamic Technology Lab Private Ltd Invests $1.25 Million in Primerica, Inc. (NYSE:PRI)

Dynamic Technology Lab Private Ltd acquired 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 & Exchange Commission. The fund acquired 4,590 shares of the financial services provider's stock, valued at approximately $1,246,000.

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

Analyst Upgrades and Downgrades

PRI has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Wednesday. 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 target price on the stock. Morgan Stanley dropped their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $309.14.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the business's stock in a transaction dated 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. This represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by insiders.

Primerica Stock Down 1.2 %

Shares of PRI traded down $2.90 during mid-day trading on Friday, reaching $245.69. The company's stock had a trading volume of 56,690 shares, compared to its average volume of 170,074. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 17.86 and a beta of 1.03. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $308.33. The business has a fifty day moving average of $280.18 and a 200 day moving average of $282.03.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date was Friday, February 21st. This is a boost from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.69%. Primerica's dividend payout ratio is currently 30.25%.

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.