Xponance Inc. Buys 203 Shares of Primerica, Inc. (NYSE:PRI)

Xponance Inc. raised its position in shares of Primerica, Inc. (NYSE:PRI) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,898 shares of the financial services provider’s stock after purchasing an additional 203 shares during the period. Xponance Inc.’s holdings in Primerica were worth $1,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Primerica in the 4th quarter worth approximately $34,191,000. SVB Wealth LLC purchased a new stake in shares of Primerica in the fourth quarter worth about $10,703,000. Strategic Financial Concepts LLC acquired a new stake in shares of Primerica during the 4th quarter worth approximately $8,767,000. Amundi purchased a new position in Primerica in the fourth quarter valued at $7,868,000. Finally, Geode Capital Management LLC raised its position in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after acquiring an additional 25,951 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Primerica Trading Down 1.4 %

PRI stock opened at $284.99 on Monday. The firm has a 50 day moving average of $285.85 and a 200-day moving average of $280.74. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 20.73 and a beta of 1.12. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last posted its 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 net margin of 15.14% and a return on equity of 31.11%. Sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently announced 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 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, February 21st. Primerica’s payout ratio is presently 30.25%.

Insider Activity at Primerica

In other Primerica news, 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 transaction of $565,800.00. Following the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now directly owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % 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. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PRI has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Keefe, Bruyette & Woods upped their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. TD Cowen raised their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $309.86.

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.