Marshall Wace LLP Buys New Stake in Primerica, Inc. (NYSE:PRI)

Marshall Wace LLP acquired a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,531 shares of the financial services provider's stock, valued at approximately $1,230,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRI. Golden State Wealth Management LLC purchased a new position in shares of Primerica in the fourth quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 71 shares during the period. Venturi Wealth Management LLC raised its position in Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. grew its position in shares of Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock worth $65,000 after buying an additional 95 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Primerica by 182.2% during the fourth quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock valued at $69,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Activity

In related news, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 approximately $56,030. This represents a 53.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 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. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 in the last 90 days. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PRI shares. BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective on the stock. StockNews.com cut 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 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 dropped their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Primerica presently has a consensus rating of "Hold" and a consensus price target of $309.14.

Primerica Trading Up 2.7 %

PRI stock traded up $7.03 on Friday, hitting $265.41. The company had a trading volume of 229,844 shares, compared to its average volume of 158,569. The stock's 50-day simple moving average is $271.77 and its 200 day simple moving average is $280.66. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 19.30 and a beta of 1.03. Primerica, Inc. has a 12-month low of $211.54 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is currently 30.25%.

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.