Townsquare Capital LLC Boosts Stake in Primerica, Inc. (NYSE:PRI)

Townsquare Capital LLC lifted its holdings in shares of Primerica, Inc. (NYSE:PRI) by 519.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,266 shares of the financial services provider’s stock after purchasing an additional 4,416 shares during the quarter. Townsquare Capital LLC’s holdings in Primerica were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new position in Primerica during the fourth quarter worth $33,000. EverSource Wealth Advisors LLC lifted its stake in Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 71 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 115 shares in the last quarter. UMB Bank n.a. boosted its holdings in Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 95 shares during the period. Finally, Bessemer Group Inc. grew its position in Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 164 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 200 shares of the company’s stock, valued at $56,030. This represents a 53.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 5,234 shares of company stock worth $1,476,575. Corporate insiders own 0.85% of the company’s stock.

Primerica Trading Down 0.4 %

Shares of PRI stock opened at $254.05 on Friday. The company has a market cap of $8.41 billion, a P/E ratio of 18.48 and a beta of 1.03. The firm has a fifty day moving average price of $276.24 and a 200 day moving average price of $281.58. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings data 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 forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 30.25%.

Wall Street Analyst Weigh In

PRI has been the subject of several recent research reports. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. 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 report on Friday, February 28th. Six 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 company currently has an average rating of “Hold” and an average price target 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.