Entropy Technologies LP Invests $716,000 in Primerica, Inc. (NYSE:PRI)

Entropy Technologies LP purchased a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,700 shares of the financial services provider's stock, valued at approximately $716,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PRI. ORG Partners LLC acquired a new position in shares of Primerica during the second quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in Primerica in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its stake in Primerica by 85.9% in the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 67 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Primerica by 45.5% in the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 60 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in Primerica in the second quarter valued at approximately $71,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Activity

In other news, President Peter W. Schneider sold 1,500 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $261.11, for a total value of $391,665.00. Following the transaction, the president now directly owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 12.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now directly owns 36,322 shares of the company's stock, valued at approximately $10,942,728.94. This trade represents a 7.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock valued at $1,803,175 over the last quarter. Company insiders own 0.85% of the company's stock.

Primerica Price Performance

Primerica stock traded up $1.59 during mid-day trading on Friday, hitting $298.41. 98,132 shares of the company were exchanged, compared to its average volume of 154,471. The business's 50 day simple moving average is $272.79 and its two-hundred day simple moving average is $250.55. The company has a market capitalization of $9.96 billion, a P/E ratio of 22.74 and a beta of 1.08. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $304.84.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to the consensus estimate of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.28 EPS. Equities research analysts predict that Primerica, Inc. will post 19.12 earnings per share for the current year.

Primerica announced that its board has initiated a share repurchase plan on Thursday, November 14th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica's dividend payout ratio is presently 27.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Primerica from $257.00 to $269.00 and gave the company an "equal weight" rating in a research note on Monday, August 19th. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a report on Thursday. TD Cowen started coverage on Primerica in a research report on Wednesday, October 9th. They set a "buy" rating and a $314.00 target price on the stock. Jefferies Financial Group lifted their price target on Primerica from $239.00 to $249.00 and gave the company a "hold" rating in a research note on Thursday, July 18th. Finally, Piper Sandler began coverage on Primerica in a research report on Friday, August 30th. They issued a "neutral" rating and a $283.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $288.33.

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.