Magnetar Financial LLC Boosts Position in Primerica, Inc. (NYSE:PRI)

Magnetar Financial LLC lifted its position in Primerica, Inc. (NYSE:PRI - Free Report) by 662.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,532 shares of the financial services provider's stock after acquiring an additional 14,364 shares during the period. Magnetar Financial LLC's holdings in Primerica were worth $4,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Primerica during the 3rd quarter worth approximately $228,000. CIBC Asset Management Inc increased its stake in shares of Primerica by 3.5% in the third quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider's stock worth $279,000 after acquiring an additional 36 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Primerica during the third quarter worth $3,710,000. Prospera Private Wealth LLC acquired a new position in Primerica during the third quarter valued at $31,000. Finally, Advisors Asset Management Inc. boosted its holdings in Primerica by 187.1% in the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Buying and Selling at Primerica

In other news, insider Nicholas Adam Jendusa sold 234 shares of the 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 completion of the sale, the insider now directly owns 200 shares in the company, valued at $56,030. This represents a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 over the last quarter. 0.85% of the stock is currently owned by insiders.

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Primerica Stock Performance

Shares of NYSE:PRI traded up $7.53 during midday trading on Monday, reaching $292.05. 154,289 shares of the company's stock traded hands, compared to its average volume of 156,665. The company has a market cap of $9.71 billion, a P/E ratio of 21.24 and a beta of 1.12. The company has a fifty day simple moving average of $285.85 and a two-hundred day simple moving average of $280.74. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

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%. As a group, research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, February 21st. Primerica's payout ratio is 30.25%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PRI shares. Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Tuesday, February 18th. Morgan Stanley reduced their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. BMO Capital Markets assumed coverage on shares of Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price for the company. Finally, TD Cowen increased their price target on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Primerica presently has an average rating of "Hold" and a consensus 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.