Gator Capital Management LLC Invests $214,000 in Primerica, Inc. (NYSE:PRI)

Gator Capital Management LLC acquired a new stake in Primerica, Inc. (NYSE:PRI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 790 shares of the financial services provider’s stock, valued at approximately $214,000.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Primerica during the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its stake in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after buying an additional 71 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 115 shares during the period. UMB Bank n.a. raised its position in Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 95 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in Primerica by 27.3% in the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 71 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated 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 transaction, the insider now owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRI. BMO Capital Markets assumed coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued 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 report on Friday, February 7th. Keefe, Bruyette & Woods raised 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. Morgan Stanley cut their target price 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. Finally, Piper Sandler decreased their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $309.86.

Primerica Price Performance

Shares of NYSE PRI opened at $248.16 on Friday. The company has a market capitalization of $8.25 billion, a P/E ratio of 18.05 and a beta of 1.12. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The business’s 50-day moving average price is $284.91 and its two-hundred day moving average price is $282.56.

Primerica (NYSE:PRI) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Primerica’s previous quarterly dividend of $0.90. Primerica’s dividend payout ratio (DPR) is 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.