Prospector Partners LLC decreased its position in shares of Primerica, Inc. (NYSE:PRI – Free Report) by 89.6% during the fourth quarter, HoldingsChannel reports. The fund owned 7,245 shares of the financial services provider’s stock after selling 62,429 shares during the quarter. Primerica accounts for approximately 4.0% of Prospector Partners LLC’s investment portfolio, making the stock its 10th largest holding. Prospector Partners LLC’s holdings in Primerica were worth $1,872,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of PRI. Integrated Wealth Concepts LLC increased its position in Primerica by 20.6% during the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 366 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Primerica by 27.7% during the first quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after acquiring an additional 28,129 shares during the last quarter. Empowered Funds LLC bought a new position in Primerica during the first quarter valued at $1,763,000. Focus Partners Wealth increased its position in Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.
Primerica Trading Down 0.0%
NYSE PRI opened at $281.87 on Monday. The company’s 50-day moving average price is $271.75 and its 200-day moving average price is $262.68. The stock has a market cap of $8.79 billion, a PE ratio of 11.82 and a beta of 0.88. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $288.03.
Primerica Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 21st were issued a $1.20 dividend. The ex-dividend date was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Primerica’s dividend payout ratio is presently 20.13%.
Insider Activity at Primerica
In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated 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 directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. 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 upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley boosted their price objective on shares of Primerica from $280.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $297.80.
Get Our Latest Stock Analysis on PRI
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.
Featured Stories
- Five stocks we like better than Primerica
- 3 ETFs Giving Ready-Made Access to the Discounted International Small-Cap Space
- What to Expect From Q2 Earnings as Tech Strength Broadens
- Viasat’s Orbiting Profits: Space Force Jackpot?
- Robinhood Wants a Bigger Role in IPOs—Here’s Why It Matters
Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRI – Free Report).
Receive News & Ratings for Primerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primerica and related companies with MarketBeat.com's FREE daily email newsletter.
