AXQ Capital LP Makes New $1.12 Million Investment in Primerica, Inc. $PRI

AXQ Capital LP purchased a new position in Primerica, Inc. (NYSE:PRI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,328 shares of the financial services provider’s stock, valued at approximately $1,118,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in Primerica by 186.5% in the third quarter. Smartleaf Asset Management LLC now owns 106 shares of the financial services provider’s stock worth $29,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Primerica in the fourth quarter worth about $30,000. Torren Management LLC purchased a new stake in Primerica in the fourth quarter worth about $50,000. Hantz Financial Services Inc. grew its position in shares of Primerica by 620.0% during the third quarter. Hantz Financial Services Inc. now owns 216 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 186 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Primerica during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 1,800 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares of the company’s stock, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings upgraded Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Morgan Stanley increased their target price on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods increased their target price on Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $297.80.

Primerica Trading Down 2.6%

Shares of Primerica stock opened at $259.76 on Wednesday. The stock has a 50 day moving average of $268.46 and a 200 day moving average of $262.03. Primerica, Inc. has a 12 month low of $230.09 and a 12 month high of $288.03. The firm has a market cap of $8.10 billion, a PE ratio of 10.89 and a beta of 0.88.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million during the quarter, compared to analyst estimates of $855.36 million. During the same period in the prior year, the company earned $5.02 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Primerica, Inc. will post 24.45 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 12th. Investors of record on Thursday, May 21st will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Primerica’s dividend payout ratio is presently 20.13%.

About Primerica

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.