Prudential Financial Inc. Acquires 6,874 Shares of Primerica, Inc. (NYSE:PRI)

Prudential Financial Inc. boosted its position in Primerica, Inc. (NYSE:PRI) by 35.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,354 shares of the financial services provider’s stock after purchasing an additional 6,874 shares during the quarter. Prudential Financial Inc. owned about 0.08% of Primerica worth $7,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of PRI. Geode Capital Management LLC grew its holdings in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Primerica in the 4th quarter worth approximately $34,191,000. Los Angeles Capital Management LLC grew its stake in shares of Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after buying an additional 11,612 shares during the last quarter. American Century Companies Inc. increased its position in Primerica by 10.2% during the 4th quarter. American Century Companies Inc. now owns 78,829 shares of the financial services provider’s stock valued at $21,396,000 after buying an additional 7,298 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Primerica by 3.7% during the fourth quarter. Sei Investments Co. now owns 75,632 shares of the financial services provider’s stock valued at $20,527,000 after buying an additional 2,706 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 2.3 %

NYSE:PRI opened at $283.34 on Friday. The company has a market cap of $9.42 billion, a PE ratio of 20.61 and a beta of 1.12. The company has a 50 day simple moving average of $286.37 and a two-hundred day simple moving average of $281.75. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS 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%. Research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently announced 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 is a boost from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, February 21st. Primerica’s dividend payout ratio is currently 30.25%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now directly owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PRI. Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price objective for the company. Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Morgan Stanley reduced their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $309.86.

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.