BI Asset Management Fondsmaeglerselskab A S Purchases Shares of 2,146 Primerica, Inc. (NYSE:PRI)

BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Primerica, Inc. (NYSE:PRI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,146 shares of the financial services provider’s stock, valued at approximately $442,000.

Several other institutional investors also recently modified their holdings of the company. ORG Partners LLC acquired a new position in Primerica in the 4th quarter valued at about $26,000. Sound Income Strategies LLC grew its stake in Primerica by 121.9% in the 4th quarter. Sound Income Strategies LLC now owns 233 shares of the financial services provider’s stock valued at $48,000 after buying an additional 128 shares during the last quarter. GAMMA Investing LLC acquired a new position in Primerica in the 4th quarter valued at about $133,000. Harvest Fund Management Co. Ltd grew its stake in Primerica by 144.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 803 shares of the financial services provider’s stock valued at $156,000 after buying an additional 474 shares during the last quarter. Finally, Mutual Advisors LLC acquired a new position in Primerica in the 4th quarter valued at about $206,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the transaction, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now directly owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the transaction, the insider now directly owns 100 shares in the company, valued at $24,981. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,493 shares of company stock worth $1,346,142. 0.85% of the stock is currently owned by company insiders.

Primerica Stock Performance

PRI stock opened at $225.59 on Friday. The company has a fifty day moving average price of $231.23 and a 200-day moving average price of $225.48. The company has a market capitalization of $7.76 billion, a P/E ratio of 13.73 and a beta of 1.10. Primerica, Inc. has a 52-week low of $179.15 and a 52-week high of $256.56.

Primerica (NYSE:PRI) last announced its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a return on equity of 27.35% and a net margin of 20.44%. The firm had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. During the same period in the prior year, the business earned $3.49 EPS. Primerica’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Primerica, Inc. will post 17.55 earnings per share for the current fiscal year.

Primerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Monday, May 20th. Primerica’s payout ratio is 18.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRI. Truist Financial increased their target price on shares of Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Morgan Stanley increased their price objective on shares of Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Raymond James downgraded shares of Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $245.50.

About Primerica

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.