Townsquare Capital LLC Increases Holdings in Primerica, Inc. (NYSE:PRI)

Townsquare Capital LLC boosted its position in Primerica, Inc. (NYSE:PRI - Free Report) by 519.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,266 shares of the financial services provider's stock after purchasing an additional 4,416 shares during the period. Townsquare Capital LLC's holdings in Primerica were worth $1,429,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PRI. Raymond James Financial Inc. bought a new position in Primerica during the 4th quarter worth approximately $34,191,000. Geode Capital Management LLC grew its holdings in Primerica by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock worth $211,691,000 after buying an additional 82,921 shares in the last quarter. FIL Ltd grew its position in Primerica by 85.5% in the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock worth $35,655,000 after purchasing an additional 60,565 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Primerica by 59.4% during the fourth quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock worth $30,323,000 after acquiring an additional 41,612 shares during the period. Finally, SVB Wealth LLC bought a new stake in shares of Primerica during the 4th quarter worth $10,703,000. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $309.14.

Primerica Stock Performance

Primerica stock traded up $5.24 during mid-day trading on Wednesday, reaching $260.00. The company's stock had a trading volume of 22,435 shares, compared to its average volume of 158,600. The firm's fifty day moving average price is $274.26 and its two-hundred day moving average price is $281.32. Primerica, Inc. has a 12-month low of $211.53 and a 12-month high of $307.91. The company has a market capitalization of $8.60 billion, a P/E ratio of 18.91 and a beta of 1.03.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Primerica's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica's dividend payout ratio is presently 30.25%.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. 0.61% of the stock is owned by company insiders.

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.