Entropy Technologies LP Raises Stock Holdings in Primerica, Inc. (NYSE:PRI)

Entropy Technologies LP increased its position in Primerica, Inc. (NYSE:PRI - Free Report) by 207.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,300 shares of the financial services provider's stock after buying an additional 5,600 shares during the period. Entropy Technologies LP's holdings in Primerica were worth $2,253,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in Primerica during the fourth quarter worth approximately $33,000. Strategic Financial Concepts LLC bought a new stake in Primerica during the fourth quarter worth approximately $8,767,000. Robertson Stephens Wealth Management LLC increased its stake in Primerica by 15.3% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,686 shares of the financial services provider's stock worth $458,000 after acquiring an additional 224 shares during the last quarter. Meritage Portfolio Management increased its stake in Primerica by 7.3% during the fourth quarter. Meritage Portfolio Management now owns 3,097 shares of the financial services provider's stock worth $841,000 after acquiring an additional 210 shares during the last quarter. Finally, Trust Point Inc. increased its stake in Primerica by 25.1% during the fourth quarter. Trust Point Inc. now owns 1,923 shares of the financial services provider's stock worth $522,000 after acquiring an additional 386 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Stock Up 2.1 %

NYSE:PRI traded up $5.75 during midday trading on Thursday, hitting $284.68. The stock had a trading volume of 136,651 shares, compared to its average volume of 142,216. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.75 and a beta of 1.11. The stock has a 50-day moving average of $282.68 and a 200 day moving average of $275.45.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 30.93% and a net margin of 14.95%. On average, sell-side analysts anticipate that Primerica, Inc. will post 19.79 earnings per share for the current fiscal year.

Primerica announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio is currently 27.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 18th. Truist Financial upped their target price on Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Friday, January 10th. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, StockNews.com cut 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 assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $304.14.

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.