Primerica, Inc. (NYSE:PRI) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC grew its holdings in shares of Primerica, Inc. (NYSE:PRI) by 662.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,532 shares of the financial services provider’s stock after purchasing an additional 14,364 shares during the period. Magnetar Financial LLC’s holdings in Primerica were worth $4,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Primerica during the 3rd quarter worth $31,000. Golden State Wealth Management LLC acquired a new stake in Primerica in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC increased its holdings in Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Down 0.3 %

NYSE PRI opened at $288.65 on Friday. The stock has a market cap of $9.60 billion, a P/E ratio of 20.99 and a beta of 1.12. The company’s 50-day simple moving average is $285.57 and its 200 day simple moving average is $280.31. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91.

Primerica (NYSE:PRI) last announced its 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 anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. 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 1.44%. Primerica’s dividend payout ratio is currently 30.25%.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now directly owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

PRI has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $309.86.

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.