FIL Ltd Purchases 60,565 Shares of Primerica, Inc. (NYSE:PRI)

FIL Ltd grew its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 85.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,365 shares of the financial services provider's stock after buying an additional 60,565 shares during the quarter. FIL Ltd owned 0.39% of Primerica worth $35,655,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PRI. Golden State Wealth Management LLC bought a new stake in Primerica during the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after acquiring an additional 71 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after buying an additional 115 shares during the period. UMB Bank n.a. grew its stake in shares of Primerica by 65.5% during the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock valued at $65,000 after buying an additional 95 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Primerica by 52.7% in the third quarter. TD Private Client Wealth LLC now owns 365 shares of the financial services provider's stock worth $97,000 after buying an additional 126 shares during the period. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler dropped their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets started 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. 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 note on Friday, February 28th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods reduced their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $309.14.

Primerica Price Performance

NYSE PRI traded up $0.13 during trading hours on Wednesday, reaching $258.10. 18,745 shares of the company's stock traded hands, compared to its average volume of 167,298. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The firm has a 50-day simple moving average of $277.85 and a 200 day simple moving average of $281.84. The firm has a market cap of $8.54 billion, a PE ratio of 18.77 and a beta of 1.03.

Primerica (NYSE:PRI - Get Free Report) 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 return on equity of 31.11% and a net margin of 15.14%. Sell-side analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's payout ratio is currently 30.25%.

Insider Buying and Selling

In related news, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction that occurred 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 $3,762,852.90. The trade was a 13.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 in the last quarter. Corporate insiders own 0.85% of the company's stock.

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.