HighTower Advisors LLC Buys 2,348 Shares of Primerica, Inc. (NYSE:PRI)

HighTower Advisors LLC boosted its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,578 shares of the financial services provider's stock after purchasing an additional 2,348 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Primerica worth $5,314,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock valued at $184,807,000 after acquiring an additional 25,951 shares during the period. Barclays PLC grew its stake in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after acquiring an additional 10,635 shares during the period. Sylvest Advisors LLC acquired a new stake in Primerica in the fourth quarter valued at approximately $543,000. Oak Thistle LLC grew its stake in Primerica by 64.9% in the fourth quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider's stock valued at $1,340,000 after acquiring an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Primerica by 10.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after acquiring an additional 11,612 shares during the period. 90.88% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 3,000 shares of the company's 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 owns 33,322 shares of the company's stock, valued at $9,388,140.28. This represents a 8.26 % decrease in their position. The sale was disclosed in a 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 sale, the insider now directly owns 200 shares of the company's stock, valued at approximately $56,030. This trade represents a 53.92 % 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. Company insiders own 0.85% of the company's stock.

Primerica Price Performance

Shares of Primerica stock traded down $3.90 during trading hours on Friday, hitting $284.99. 791,085 shares of the company's stock traded hands, compared to its average volume of 156,674. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 20.73 and a beta of 1.12. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The company has a fifty day simple moving average of $285.85 and a 200-day simple moving average of $280.60.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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, analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. This is an increase from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.46%. Primerica's dividend payout ratio is presently 30.25%.

Analyst Ratings Changes

A number of equities research analysts have commented on PRI shares. BMO Capital Markets started coverage on Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective for the company. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Finally, TD Cowen increased their target price on shares of Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Primerica has a consensus rating of "Hold" and an average target price of $309.86.

Primerica Company 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.