Petros Family Wealth LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Petros Family Wealth LLC purchased a new position in Primerica, Inc. (NYSE:PRI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,426 shares of the financial services provider’s stock, valued at approximately $387,000.

Several other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position 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 valued at $211,691,000 after acquiring an additional 82,921 shares during the last quarter. FIL Ltd lifted its stake in shares of Primerica by 85.5% in the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock valued at $35,655,000 after purchasing an additional 60,565 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Primerica during the 4th quarter valued at about $34,191,000. Los Angeles Capital Management LLC grew its stake in Primerica by 10.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after purchasing an additional 11,612 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Primerica by 11.4% in the fourth quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider’s stock worth $31,840,000 after purchasing an additional 11,996 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,234 shares of company stock worth $1,476,575. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PRI. StockNews.com downgraded shares of 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 issued a “market perform” rating and a $311.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Wednesday. Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. Finally, 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 report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $309.14.

Primerica Price Performance

Shares of NYSE PRI opened at $251.76 on Friday. The company has a 50-day moving average price of $279.38 and a 200-day moving average price of $281.94. The stock has a market capitalization of $8.33 billion, a P/E ratio of 18.31 and a beta of 1.03. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (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%. As a group, equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a $1.04 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

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.