Fox Run Management L.L.C. Purchases New Shares in Primerica, Inc. (NYSE:PRI)

Fox Run Management L.L.C. purchased a new position in shares of Primerica, Inc. (NYSE:PRI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,462 shares of the financial services provider’s stock, valued at approximately $668,000.

A number of other institutional investors have also added to or reduced their stakes in PRI. GSA Capital Partners LLP purchased a new position in shares of Primerica in the 3rd quarter worth approximately $228,000. Advisors Asset Management Inc. lifted its holdings in Primerica by 187.1% during the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 419 shares during the period. Great Valley Advisor Group Inc. purchased a new position in Primerica in the third quarter worth $398,000. Kingsview Wealth Management LLC grew its stake in Primerica by 0.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after purchasing an additional 43 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of Primerica during the 3rd quarter valued at $983,000. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

Shares of PRI stock opened at $292.05 on Tuesday. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 21.24 and a beta of 1.12. The company’s fifty day simple moving average is $286.20 and its two-hundred day simple moving average is $280.98. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

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

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.42%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is currently 30.25%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PRI shares. Morgan Stanley cut their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. TD Cowen increased their target price on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, BMO Capital Markets started coverage on Primerica in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $309.86.

Insider Buying and Selling

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the company’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 completion of the transaction, the president now owns 13,301 shares in the company, valued at $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. In the last 90 days, insiders have sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.85% of the company’s stock.

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.