Belpointe Asset Management LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Belpointe Asset Management LLC bought a new position in Primerica, Inc. (NYSE:PRI – Get Rating) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 271 shares of the financial services provider’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Eaton Vance Management raised its position in shares of Primerica by 0.3% during the 3rd quarter. Eaton Vance Management now owns 24,502 shares of the financial services provider’s stock valued at $3,025,000 after buying an additional 74 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Primerica by 3.2% during the 3rd quarter. Captrust Financial Advisors now owns 2,760 shares of the financial services provider’s stock valued at $341,000 after buying an additional 86 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in Primerica by 0.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 23,491 shares of the financial services provider’s stock worth $3,332,000 after purchasing an additional 97 shares during the period. Covestor Ltd raised its position in Primerica by 74.7% in the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 109 shares during the period. Finally, Arizona State Retirement System raised its position in Primerica by 1.1% in the 4th quarter. Arizona State Retirement System now owns 10,569 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 112 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial lifted their target price on shares of Primerica from $210.00 to $220.00 in a research report on Thursday, May 11th. StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. Raymond James started coverage on shares of Primerica in a report on Wednesday, April 12th. They issued a “strong-buy” rating and a $244.00 price target on the stock. Morgan Stanley raised their price target on shares of Primerica from $150.00 to $162.00 and gave the stock an “equal weight” rating in a report on Friday, February 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Primerica from $167.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, March 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Primerica presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.25.

Primerica Stock Performance

Shares of Primerica stock opened at $185.01 on Friday. The stock has a market capitalization of $6.70 billion, a PE ratio of 16.70 and a beta of 1.18. Primerica, Inc. has a 52-week low of $110.22 and a 52-week high of $195.69. The company has a 50-day simple moving average of $175.73 and a two-hundred day simple moving average of $161.60.

Primerica (NYSE:PRI – Get Rating) last issued its earnings results on Monday, May 8th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.04. Primerica had a net margin of 15.33% and a return on equity of 27.48%. The business had revenue of $690.04 million during the quarter, compared to analysts’ expectations of $697.61 million. During the same period in the previous year, the company earned $2.11 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities research analysts forecast that Primerica, Inc. will post 15.24 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Monday, May 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $2.60 annualized dividend and a dividend yield of 1.41%. Primerica’s payout ratio is 23.47%.

Insider Activity

In other news, President Peter W. Schneider sold 2,809 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $185.60, for a total transaction of $521,350.40. Following the completion of the transaction, the president now directly owns 18,524 shares of the company’s stock, valued at $3,438,054.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Primerica news, President Peter W. Schneider sold 2,809 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $185.60, for a total value of $521,350.40. Following the completion of the transaction, the president now directly owns 18,524 shares in the company, valued at $3,438,054.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Gregory C. Pitts sold 4,511 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $183.14, for a total transaction of $826,144.54. Following the transaction, the chief operating officer now owns 3,669 shares of the company’s stock, valued at approximately $671,940.66. The disclosure for this sale can be found here. Insiders sold 35,668 shares of company stock valued at $6,624,246 over the last three months. Insiders own 0.85% of the company’s stock.

Primerica Company Profile

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Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.