Aigen Investment Management LP Has $448,000 Stock Holdings in Primerica, Inc. (NYSE:PRI)

Aigen Investment Management LP cut its holdings in Primerica, Inc. (NYSE:PRI) by 41.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,649 shares of the financial services provider’s stock after selling 1,162 shares during the quarter. Aigen Investment Management LP’s holdings in Primerica were worth $448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC acquired a new position in shares of Primerica in the 4th quarter valued at approximately $5,866,000. Atria Investments Inc lifted its stake in Primerica by 8.8% in the 4th quarter. Atria Investments Inc now owns 9,735 shares of the financial services provider’s stock valued at $2,642,000 after acquiring an additional 785 shares in the last quarter. Assetmark Inc. lifted its stake in Primerica by 3.9% in the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 57 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Primerica by 16.5% in the 4th quarter. Victory Capital Management Inc. now owns 46,303 shares of the financial services provider’s stock valued at $12,568,000 after acquiring an additional 6,561 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Primerica by 15.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,047 shares of the financial services provider’s stock valued at $556,000 after acquiring an additional 268 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRI has been the topic of several research reports. Truist Financial boosted their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets initiated coverage on Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. TD Cowen boosted their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $309.86.

Insider Activity at Primerica

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company’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 transaction, the insider now directly owns 200 shares of the company’s stock, valued at $56,030. This represents a 53.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were 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 directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,234 shares of company stock worth $1,476,575. Company insiders own 0.85% of the company’s stock.

Primerica Stock Down 0.8 %

Shares of Primerica stock opened at $280.74 on Friday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The stock has a market cap of $9.37 billion, a P/E ratio of 20.42 and a beta of 1.11. The business’s 50 day moving average is $283.93 and its 200-day moving average is $278.89.

Primerica (NYSE:PRI) last posted its quarterly 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%. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio is 30.25%.

Primerica announced that its board has initiated a stock repurchase program on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Primerica 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.