ExodusPoint Capital Management LP Raises Holdings in Primerica, Inc. (NYSE:PRI)

ExodusPoint Capital Management LP raised its position in Primerica, Inc. (NYSE:PRI) by 51.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,583 shares of the financial services provider’s stock after purchasing an additional 5,961 shares during the period. ExodusPoint Capital Management LP owned 0.05% of Primerica worth $4,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRI. Golden State Wealth Management LLC purchased a new stake in shares of Primerica in the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after buying an additional 71 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after buying an additional 115 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 95 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 302 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Trading Down 9.9 %

PRI stock opened at $248.16 on Monday. The business’s fifty day moving average price is $284.91 and its 200 day moving average price is $282.75. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The company has a market capitalization of $8.25 billion, a PE ratio of 18.05 and a beta of 1.12.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Research analysts predict 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. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.68%. Primerica’s payout ratio is 30.25%.

Analyst Upgrades and Downgrades

PRI has been the subject of several recent analyst reports. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Piper Sandler cut 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. Morgan Stanley decreased 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. Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $309.86.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,234 shares of company stock valued at $1,476,575. 0.61% of the stock is currently owned by company insiders.

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.