Proficio Capital Partners LLC Invests $5.87 Million in Primerica, Inc. (NYSE:PRI)

Proficio Capital Partners LLC bought a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,612 shares of the financial services provider's stock, valued at approximately $5,866,000. Proficio Capital Partners LLC owned 0.06% of Primerica at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in shares of Primerica during the 3rd quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new position in Primerica during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC boosted its position in shares of Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock worth $39,000 after purchasing an additional 54 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after purchasing an additional 115 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock worth $65,000 after purchasing an additional 95 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value 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 $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. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 in the last three months. Insiders own 0.85% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRI. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their price objective on 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 note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price on the stock. Piper Sandler dropped their price target on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Finally, TD Cowen increased their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Primerica has an average rating of "Hold" and a consensus price target of $309.86.

Primerica Stock Down 0.3 %

Primerica stock traded down $0.74 during midday trading on Thursday, reaching $288.65. 75,906 shares of the stock traded hands, compared to its average volume of 154,101. The stock has a market cap of $9.60 billion, a P/E ratio of 20.98 and a beta of 1.12. The stock's fifty day moving average is $285.36 and its 200-day moving average is $280.25. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91.

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

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. This is a boost from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's dividend payout ratio (DPR) is presently 30.25%.

Primerica 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.