Sherbrooke Park Advisers LLC Makes New $404,000 Investment in Primerica, Inc. (NYSE:PRI)

Sherbrooke Park Advisers LLC bought a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,488 shares of the financial services provider's stock, valued at approximately $404,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC grew its position in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock worth $5,428,000 after acquiring an additional 10,635 shares in the last quarter. Sylvest Advisors LLC purchased a new position in shares of Primerica during the 4th quarter valued at about $543,000. California Public Employees Retirement System raised its holdings in shares of Primerica by 59.4% during the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock valued at $30,323,000 after buying an additional 41,612 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock worth $32,573,000 after buying an additional 11,612 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Primerica by 4,150.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,123 shares of the financial services provider's stock worth $1,120,000 after buying an additional 4,026 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. The trade was a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider now directly owns 200 shares of the company's stock, valued at $56,030. The trade was a 53.92% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company's stock.

Primerica Price Performance

PRI traded down $0.82 during trading on Friday, hitting $267.77. 18,686 shares of the stock traded hands, compared to its average volume of 167,093. The firm has a market capitalization of $8.86 billion, a P/E ratio of 19.47 and a beta of 1.02. Primerica, Inc. has a 12-month low of $219.52 and a 12-month high of $307.91. The firm has a 50-day moving average of $268.50 and a 200 day moving average of $279.99.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $803.56 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. 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 EPS for the current fiscal year.

Primerica Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, May 22nd. Primerica's payout ratio is 27.98%.

Analysts Set New Price Targets

Several research analysts have commented on PRI shares. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target on the stock. Keefe, Bruyette & Woods lowered their price target 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. Wall Street Zen lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Morgan Stanley lifted their price objective on Primerica from $274.00 to $296.00 and gave the stock an "equal weight" rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $308.00.

About Primerica

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.