Gator Capital Management LLC Purchases New Holdings in Primerica, Inc. (NYSE:PRI)

Gator Capital Management LLC acquired a new position in Primerica, Inc. (NYSE:PRI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 790 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in Primerica by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 104,945 shares of the financial services provider’s stock worth $28,484,000 after purchasing an additional 5,938 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Primerica in the 4th quarter valued at $1,246,000. ExodusPoint Capital Management LP lifted its holdings in shares of Primerica by 51.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 17,583 shares of the financial services provider’s stock worth $4,772,000 after acquiring an additional 5,961 shares during the period. World Investment Advisors acquired a new stake in shares of Primerica during the 4th quarter valued at about $1,343,000. Finally, Bryce Point Capital LLC bought a new stake in Primerica in the fourth quarter valued at about $518,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $845,220.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,234 shares of company stock worth $1,476,575. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PRI. Keefe, Bruyette & Woods lifted their price objective on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Morgan Stanley decreased their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, BMO Capital Markets started coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Six investment 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 stock has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Performance

Shares of NYSE:PRI opened at $248.16 on Friday. The business has a fifty day moving average of $284.91 and a 200-day moving average of $282.56. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The firm has a market cap of $8.25 billion, a PE ratio of 18.05 and a beta of 1.12.

Primerica (NYSE:PRI) last posted its quarterly earnings data 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%. On average, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.68%. Primerica’s dividend payout ratio is currently 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.