15,659 Shares in Primerica, Inc. (NYSE:PRI) Bought by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC purchased a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,659 shares of the financial services provider's stock, valued at approximately $4,250,000. Primerica comprises about 2.7% of Sovereign s Capital Management LLC's portfolio, making the stock its 8th largest position.

Several other institutional investors have also modified their holdings of PRI. Raymond James Financial Inc. bought a new position in shares of Primerica during the fourth quarter worth about $34,191,000. AQR Capital Management LLC grew 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 last quarter. Geode Capital Management LLC grew its position in shares of Primerica by 11.9% during 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 last quarter. FIL Ltd grew its position in Primerica by 85.5% in the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock valued at $35,655,000 after buying an additional 60,565 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in Primerica by 2,508.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock valued at $15,606,000 after buying an additional 55,295 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Insider Buying and Selling

In related 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 value of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This represents a 53.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Primerica Stock Performance

NYSE PRI traded down $1.80 on Friday, reaching $266.78. The company's stock had a trading volume of 109,405 shares, compared to its average volume of 157,300. Primerica, Inc. has a twelve month low of $219.52 and a twelve month high of $307.91. The stock has a market cap of $8.83 billion, a PE ratio of 19.40 and a beta of 1.02. The firm's 50 day moving average is $268.07 and its two-hundred day moving average is $279.92.

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

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.56%. Primerica's dividend payout ratio is currently 27.98%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRI. Wall Street Zen lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley increased their target price on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $308.00.

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.