AlphaQuest LLC Has $3.34 Million Position in Primerica, Inc. (NYSE:PRI)

AlphaQuest LLC trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,292 shares of the financial services provider’s stock after selling 2,161 shares during the quarter. Primerica accounts for 0.4% of AlphaQuest LLC’s portfolio, making the stock its 8th largest holding. AlphaQuest LLC’s holdings in Primerica were worth $3,336,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PRI. OFI Invest Asset Management bought a new position in Primerica in the fourth quarter worth $2,097,000. Amundi bought a new position in Primerica in the fourth quarter worth $7,868,000. PNC Financial Services Group Inc. lifted its position in Primerica by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,604 shares of the financial services provider’s stock worth $1,521,000 after purchasing an additional 116 shares during the period. Edgestream Partners L.P. lifted its position in Primerica by 3.2% in the fourth quarter. Edgestream Partners L.P. now owns 19,745 shares of the financial services provider’s stock worth $5,359,000 after purchasing an additional 614 shares during the period. Finally, Callan Family Office LLC lifted its position in Primerica by 273.8% in the fourth quarter. Callan Family Office LLC now owns 5,024 shares of the financial services provider’s stock worth $1,364,000 after purchasing an additional 3,680 shares during the period. 90.88% of the stock is owned by institutional investors.

Primerica Stock Performance

Shares of NYSE:PRI opened at $280.74 on Friday. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The firm has a market cap of $9.34 billion, a PE ratio of 20.42 and a beta of 1.12. The business has a fifty day moving average of $283.93 and a 200-day moving average of $279.03.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share 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, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.48%. Primerica’s dividend payout ratio (DPR) is 30.25%.

Primerica announced that its Board of Directors has approved a share buyback program on Thursday, November 14th that permits the company to repurchase $450.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

PRI has been the subject of several research reports. Morgan Stanley reduced their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. TD Cowen raised their target price on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods increased their price objective 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, BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $309.86.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by corporate insiders.

About Primerica

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.