Sherbrooke Park Advisers LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Sherbrooke Park Advisers LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,488 shares of the financial services provider’s stock, valued at approximately $404,000.

A number of other institutional investors have also modified their holdings of PRI. Raymond James Financial Inc. purchased a new position in shares of Primerica during the fourth quarter worth approximately $34,191,000. AQR Capital Management LLC increased its position in shares of Primerica by 254.5% during the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider’s stock worth $31,558,000 after acquiring an additional 83,477 shares during the period. Geode Capital Management LLC lifted its stake in Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock worth $211,691,000 after acquiring an additional 82,921 shares during the period. FIL Ltd lifted its stake in Primerica by 85.5% in the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider’s stock worth $35,655,000 after acquiring an additional 60,565 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in Primerica by 2,508.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider’s stock worth $15,606,000 after acquiring an additional 55,295 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the 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 sale, the president now directly owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. This represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.61% of the stock is currently owned by insiders.

Primerica Stock Performance

PRI stock opened at $279.02 on Friday. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 20.29 and a beta of 1.02. The firm has a 50-day simple moving average of $269.12 and a two-hundred day simple moving average of $280.03. Primerica, Inc. has a one year low of $219.52 and a one year high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, beating the consensus estimate of $4.77 by $0.25. The business had revenue of $803.56 million during the quarter, compared to analyst estimates of $783.54 million. Primerica had a net margin of 15.14% and a return on equity of 31.11%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.91 earnings per share. As a group, equities analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, May 22nd. Primerica’s payout ratio is 27.98%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. 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, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $309.14.

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.