Aigen Investment Management LP Has $448,000 Position in Primerica, Inc. (NYSE:PRI)

Aigen Investment Management LP lowered its holdings in shares of Primerica, Inc. (NYSE:PRI) by 41.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,649 shares of the financial services provider’s stock after selling 1,162 shares during the period. Aigen Investment Management LP’s holdings in Primerica were worth $448,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Primerica by 2.9% during the third quarter. Janney Montgomery Scott LLC now owns 10,243 shares of the financial services provider’s stock valued at $2,716,000 after acquiring an additional 292 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Primerica by 40.0% during the third quarter. Van ECK Associates Corp now owns 21,646 shares of the financial services provider’s stock valued at $5,998,000 after acquiring an additional 6,185 shares during the period. Assetmark Inc. lifted its holdings in shares of Primerica by 11.8% during the third quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 154 shares during the period. Atria Investments Inc lifted its holdings in shares of Primerica by 8.0% during the third quarter. Atria Investments Inc now owns 8,950 shares of the financial services provider’s stock valued at $2,373,000 after acquiring an additional 662 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in shares of Primerica during the third quarter valued at $221,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Ratings Changes

PRI has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Piper Sandler cut their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Finally, Truist Financial lifted their price target on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Primerica presently has a consensus rating of “Hold” and a consensus price target of $309.86.

Insiders Place Their Bets

In other news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by insiders.

Primerica Trading Down 0.8 %

Shares of NYSE:PRI opened at $280.74 on Friday. The stock has a market capitalization of $9.37 billion, a P/E ratio of 20.42 and a beta of 1.11. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The business has a 50-day moving average price of $283.93 and a two-hundred day moving average price of $278.89.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, equities analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.04 per share. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, February 21st. Primerica’s payout ratio is currently 30.25%.

Primerica declared that its board has initiated a stock buyback program on Thursday, November 14th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Primerica 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.