Edgestream Partners L.P. acquired a new stake in shares of Primerica, Inc. (NYSE:PRI – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,870 shares of the financial services provider’s stock, valued at approximately $979,000.
A number of other hedge funds have also recently made changes to their positions in PRI. Lyrical Asset Management LP boosted its stake in Primerica by 1.5% during the 4th quarter. Lyrical Asset Management LP now owns 663,783 shares of the financial services provider’s stock valued at $136,580,000 after purchasing an additional 9,923 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Primerica by 4.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 229,084 shares of the financial services provider’s stock valued at $47,136,000 after buying an additional 9,198 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Primerica by 5.0% during the first quarter. Principal Financial Group Inc. now owns 218,324 shares of the financial services provider’s stock valued at $55,227,000 after buying an additional 10,354 shares during the last quarter. Norges Bank bought a new stake in Primerica during the fourth quarter worth $31,194,000. Finally, Los Angeles Capital Management LLC raised its position in Primerica by 47.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 125,585 shares of the financial services provider’s stock valued at $25,840,000 after buying an additional 40,647 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.
Primerica Stock Up 0.4 %
PRI traded up $1.06 during trading on Tuesday, hitting $250.98. 14,845 shares of the company traded hands, compared to its average volume of 167,890. Primerica, Inc. has a one year low of $184.76 and a one year high of $256.56. The stock’s fifty day moving average is $232.50 and its 200 day moving average is $233.34. The firm has a market cap of $8.64 billion, a P/E ratio of 15.21 and a beta of 1.09.
Primerica Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, May 20th. Primerica’s dividend payout ratio is currently 18.26%.
Insider Buying and Selling at Primerica
In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the sale, the president now owns 11,759 shares of the company’s stock, valued at approximately $2,674,466.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $227.44, for a total transaction of $341,160.00. Following the sale, the president now directly owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the transaction, the chief executive officer now owns 48,322 shares of the company’s stock, valued at approximately $10,764,208.72. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PRI. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Jefferies Financial Group raised their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley dropped their target price on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $260.50.
Check Out Our Latest Stock Report on Primerica
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.
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