ExodusPoint Capital Management LP Boosts Stake in Primerica, Inc. (NYSE:PRI)

ExodusPoint Capital Management LP increased its position in shares of Primerica, Inc. (NYSE:PRI) by 51.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,583 shares of the financial services provider’s stock after buying an additional 5,961 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Primerica were worth $4,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in PRI. Raymond James Financial Inc. acquired a new stake in shares of Primerica during the fourth quarter worth about $34,191,000. Geode Capital Management LLC raised its stake in Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after acquiring an additional 82,921 shares during the last quarter. California Public Employees Retirement System lifted its position in Primerica by 59.4% during the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider’s stock worth $30,323,000 after acquiring an additional 41,612 shares during the period. SVB Wealth LLC purchased a new position in shares of Primerica in the 4th quarter valued at approximately $10,703,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Primerica in the fourth quarter valued at approximately $8,767,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analysts Set New Price Targets

PRI has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. Morgan Stanley dropped their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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 company’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 sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Primerica Price Performance

PRI opened at $248.16 on Monday. The stock’s 50 day simple moving average is $284.91 and its 200 day simple moving average is $282.75. The stock has a market cap of $8.25 billion, a P/E ratio of 18.05 and a beta of 1.12. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly 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%. Research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 30.25%.

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.