Dynamic Technology Lab Private Ltd Invests $1.25 Million in Primerica, Inc. (NYSE:PRI)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Primerica, Inc. (NYSE:PRI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,590 shares of the financial services provider’s stock, valued at approximately $1,246,000.

Several other hedge funds also recently added to or reduced their stakes in PRI. BNP Paribas Financial Markets grew its stake in shares of Primerica by 320.6% during the third quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider’s stock valued at $1,525,000 after buying an additional 4,383 shares during the last quarter. Townsquare Capital LLC bought a new position in Primerica in the 3rd quarter valued at $225,000. Captrust Financial Advisors increased its stake in Primerica by 14.9% in the third quarter. Captrust Financial Advisors now owns 1,413 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 183 shares during the period. Verition Fund Management LLC bought a new stake in shares of Primerica during the third quarter worth $382,000. Finally, Centiva Capital LP purchased a new stake in shares of Primerica during the third quarter valued at $261,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Down 9.9 %

Shares of Primerica stock opened at $248.16 on Friday. The company has a market cap of $8.25 billion, a P/E ratio of 18.05 and a beta of 1.12. The firm’s 50 day moving average price is $284.91 and its 200-day moving average price is $282.56. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, equities research analysts forecast 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 paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.68%. Primerica’s dividend payout ratio (DPR) is 30.25%.

Insiders Place Their Bets

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler lowered their target price on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley lowered their price objective on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $309.86.

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.