Point72 Asia Singapore Pte. Ltd. Increases Stock Holdings in Primerica, Inc. (NYSE:PRI)

Point72 Asia Singapore Pte. Ltd. grew its stake in Primerica, Inc. (NYSE:PRI) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,507 shares of the financial services provider’s stock after purchasing an additional 69 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Primerica were worth $681,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Primerica in the 4th quarter valued at $34,191,000. AQR Capital Management LLC raised its holdings in shares of Primerica by 254.5% in the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock valued at $31,558,000 after buying an additional 83,477 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 during the period. FIL Ltd grew its holdings in shares of Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock worth $35,655,000 after buying an additional 60,565 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Primerica by 2,508.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider’s stock valued at $15,606,000 after acquiring an additional 55,295 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Performance

NYSE:PRI opened at $275.62 on Friday. Primerica, Inc. has a 1 year low of $219.52 and a 1 year high of $307.91. The stock has a fifty day moving average price of $269.10 and a two-hundred day moving average price of $280.02. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 20.05 and a beta of 1.02.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, beating the consensus estimate of $4.77 by $0.25. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The firm had revenue of $803.56 million during the quarter, compared to analysts’ expectations of $783.54 million. During the same quarter last year, the business earned $3.91 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, May 22nd. Primerica’s dividend payout ratio is currently 27.98%.

Insiders Place Their Bets

In related 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 sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at approximately $9,388,140.28. This represents a 8.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of Primerica 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PRI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $309.14.

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.