Short Interest in Primerica, Inc. (NYSE:PRI) Expands By 19.7%

Primerica, Inc. (NYSE:PRI) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 633,400 shares, a growth of 19.7% from the March 15th total of 529,200 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 174,300 shares, the short-interest ratio is presently 3.6 days.

Primerica Price Performance

Primerica stock opened at $254.05 on Monday. The business has a 50 day moving average of $275.50 and a 200-day moving average of $281.70. Primerica has a 1 year low of $211.53 and a 1 year high of $307.91. The company has a market capitalization of $8.41 billion, a P/E ratio of 18.48 and a beta of 1.03.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Equities analysts anticipate that Primerica will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.64%. Primerica’s dividend payout ratio is presently 30.25%.

Analyst Ratings Changes

PRI has been the topic of several recent research reports. BMO Capital Markets assumed coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Morgan Stanley cut their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on 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, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at $56,030. This trade represents a 53.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRI. Mayfair Advisory Group LLC boosted its position in Primerica by 7.9% during the first quarter. Mayfair Advisory Group LLC now owns 1,052 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 77 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Primerica by 1.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,323 shares of the financial services provider’s stock valued at $2,937,000 after buying an additional 125 shares during the period. Ritholtz Wealth Management bought a new position in shares of Primerica during the 1st quarter worth approximately $673,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Primerica by 45.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,928 shares of the financial services provider’s stock worth $1,402,000 after buying an additional 1,543 shares during the period. Finally, Everhart Financial Group Inc. increased its stake in shares of Primerica by 5.6% in the 1st quarter. Everhart Financial Group Inc. now owns 2,826 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

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.