Fox Run Management L.L.C. Acquires New Holdings in Primerica, Inc. (NYSE:PRI)

Fox Run Management L.L.C. acquired a new position in Primerica, Inc. (NYSE:PRI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,462 shares of the financial services provider's stock, valued at approximately $668,000.

Other large investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC grew its stake in shares of Primerica by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider's stock worth $1,549,000 after purchasing an additional 43 shares in the last quarter. 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 purchasing an additional 45 shares during the period. Larson Financial Group LLC grew its position in 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 buying an additional 54 shares in the last quarter. CIBC Asset Management Inc increased its stake in 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 buying an additional 54 shares during the period. Finally, Assetmark Inc. raised its position in shares of 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 buying an additional 57 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

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Primerica Stock Down 2.3 %

Shares of PRI stock traded down $6.58 during trading hours on Friday, reaching $283.34. 148,100 shares of the stock traded hands, compared to its average volume of 164,088. The firm has a market capitalization of $9.42 billion, a PE ratio of 20.61 and a beta of 1.12. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The business has a fifty day moving average price of $286.37 and a 200 day moving average price of $281.55.

Primerica (NYSE:PRI - Get Free Report) last announced its 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 net margin of 15.14% and a return on equity of 31.11%. Research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal 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 paid a $1.04 dividend. This is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's dividend payout ratio is currently 30.25%.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 2,000 shares of the business's 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 transaction, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % 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 worth $1,476,575. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler decreased 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. Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Finally, StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $309.86.

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.