GSA Capital Partners LLP Takes Position in Primerica, Inc. $PRI

GSA Capital Partners LLP acquired a new stake in shares of Primerica, Inc. (NYSE:PRI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,293 shares of the financial services provider’s stock, valued at approximately $1,884,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Primerica by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 613,329 shares of the financial services provider’s stock valued at $170,248,000 after buying an additional 2,525 shares in the last quarter. First Trust Advisors LP raised its position in shares of Primerica by 12.4% during the 3rd quarter. First Trust Advisors LP now owns 492,083 shares of the financial services provider’s stock valued at $136,597,000 after buying an additional 54,158 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Primerica by 25.5% during the 3rd quarter. AQR Capital Management LLC now owns 347,531 shares of the financial services provider’s stock valued at $96,089,000 after buying an additional 70,510 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of Primerica by 2.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 256,774 shares of the financial services provider’s stock valued at $71,278,000 after buying an additional 6,623 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Primerica by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 216,312 shares of the financial services provider’s stock valued at $56,150,000 after buying an additional 31,876 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of Primerica stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total value of $503,352.00. Following the transaction, the president owned 9,811 shares in the company, valued at $2,743,548.04. This trade represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Zacks Research cut shares of Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Primerica in a research report on Wednesday, May 6th. Morgan Stanley lowered their price objective on shares of Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Primerica has an average rating of “Hold” and an average price target of $296.60.

Primerica Stock Down 0.6%

Shares of NYSE:PRI opened at $278.88 on Wednesday. The stock has a market cap of $8.70 billion, a PE ratio of 11.69 and a beta of 0.91. The company’s fifty day moving average is $264.01 and its 200 day moving average is $260.86. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $288.03.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. The company had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $855.36 million. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.02 EPS. Sell-side analysts anticipate that Primerica, Inc. will post 24.08 EPS for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, May 21st. Primerica’s dividend payout ratio (DPR) is presently 20.13%.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.