MetLife Investment Management LLC Has $5.11 Million Stake in Primerica, Inc. (NYSE:PRI)

MetLife Investment Management LLC grew its stake in shares of Primerica, Inc. (NYSE:PRI) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,818 shares of the financial services provider’s stock after purchasing an additional 1,321 shares during the period. MetLife Investment Management LLC’s holdings in Primerica were worth $5,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of Primerica in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its position in Primerica by 129.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 115 shares during the period. UMB Bank n.a. increased its position in shares of Primerica by 65.5% during the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 95 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Primerica by 182.2% during the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 164 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Price Performance

NYSE:PRI opened at $257.03 on Thursday. The company has a market cap of $8.51 billion, a P/E ratio of 18.69 and a beta of 1.03. Primerica, Inc. has a 1 year low of $211.53 and a 1 year high of $307.91. The stock’s fifty day moving average price is $273.78 and its two-hundred day moving average price is $281.15.

Primerica (NYSE:PRI) last issued its quarterly earnings data 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 return on equity of 31.11% and a net margin of 15.14%. On average, analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company 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 yield of 1.62%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRI. Keefe, Bruyette & Woods dropped their target price on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley reduced their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. Finally, StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $309.14.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred 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 represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock worth $1,476,575 in the last three months. Corporate insiders own 0.61% 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.