Fox Run Management L.L.C. Invests $668,000 in Primerica, Inc. (NYSE:PRI)

Fox Run Management L.L.C. acquired a new stake in Primerica, Inc. (NYSE:PRI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,462 shares of the financial services provider’s stock, valued at approximately $668,000.

Several other hedge funds have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new position in Primerica in the 4th quarter valued at approximately $2,470,000. Sei Investments Co. increased its holdings in Primerica by 3.7% in the fourth quarter. Sei Investments Co. now owns 75,632 shares of the financial services provider’s stock valued at $20,527,000 after purchasing an additional 2,706 shares during the period. American Century Companies Inc. increased its holdings in Primerica by 10.2% in the fourth quarter. American Century Companies Inc. now owns 78,829 shares of the financial services provider’s stock valued at $21,396,000 after purchasing an additional 7,298 shares during the period. Magnetar Financial LLC raised its position in Primerica by 662.5% during the 4th quarter. Magnetar Financial LLC now owns 16,532 shares of the financial services provider’s stock worth $4,487,000 after purchasing an additional 14,364 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Primerica by 17.4% during the 4th quarter. Teacher Retirement System of Texas now owns 32,770 shares of the financial services provider’s stock worth $8,894,000 after buying an additional 4,863 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. TD Cowen boosted their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Trading Up 2.6 %

PRI opened at $292.05 on Tuesday. The company has a fifty day moving average price of $286.20 and a two-hundred day moving average price of $280.98. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The company has a market cap of $9.71 billion, a P/E ratio of 21.24 and a beta of 1.12.

Primerica (NYSE:PRI) last issued its earnings results 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, research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.42%. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the company’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 completion of the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by corporate insiders.

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.