EntryPoint Capital LLC Takes $556,000 Position in Primerica, Inc. (NYSE:PRI)

EntryPoint Capital LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,049 shares of the financial services provider's stock, valued at approximately $556,000.

Several other institutional investors and hedge funds have also modified their holdings of PRI. Kingsview Wealth Management LLC lifted its position in shares of Primerica by 0.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider's stock worth $1,549,000 after buying an additional 43 shares during the last quarter. Dana Investment Advisors Inc. lifted its holdings in shares of 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. Larson Financial Group LLC boosted its stake in shares of Primerica by 56.8% in the 3rd quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 54 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Primerica by 5.1% during the 4th 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. Finally, Assetmark Inc. increased its position in Primerica by 3.9% during the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider's stock worth $412,000 after purchasing an additional 57 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Primerica Trading Down 2.3 %

NYSE:PRI traded down $6.58 on Friday, reaching $283.34. 148,100 shares of the stock traded hands, compared to its average volume of 164,088. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The company's 50 day moving average is $286.37 and its 200-day moving average is $281.55. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 20.61 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data 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, equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's dividend payout ratio (DPR) is presently 30.25%.

Wall Street Analysts Forecast Growth

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

Insider Transactions 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 shares were 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 in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on 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 approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. 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. Corporate insiders own 0.85% of the company's stock.

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.