Balyasny Asset Management L.P. Has $17.81 Million Holdings in Primerica, Inc. (NYSE:PRI)

Balyasny Asset Management L.P. raised its position in Primerica, Inc. (NYSE:PRI - Free Report) by 51.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,623 shares of the financial services provider's stock after purchasing an additional 22,275 shares during the quarter. Balyasny Asset Management L.P. owned 0.20% of Primerica worth $17,811,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PRI shares. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Morgan Stanley decreased their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price for the company. Finally, Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $309.14.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the sale, the insider now directly owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. 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 three months. 0.61% of the stock is currently owned by corporate insiders.

Primerica Stock Performance

Shares of PRI stock traded down $3.45 during mid-day trading on Friday, hitting $268.55. 110,912 shares of the stock traded hands, compared to its average volume of 157,224. The company's 50-day simple moving average is $269.75 and its 200-day simple moving average is $280.15. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 19.53 and a beta of 1.02. Primerica, Inc. has a twelve month low of $219.52 and a twelve month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $783.54 million. During the same quarter in the previous year, the company posted $3.91 EPS. The business's revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.55%. Primerica's dividend payout ratio (DPR) is presently 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.