JPMorgan Chase & Co. Increases Stock Holdings in Primerica, Inc. (NYSE:PRI)

JPMorgan Chase & Co. raised its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,308 shares of the financial services provider's stock after purchasing an additional 11,996 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Primerica worth $31,840,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PRI. Golden State Wealth Management LLC acquired a new stake in Primerica in the 4th quarter valued at $33,000. EverSource Wealth Advisors LLC raised its position in shares of Primerica by 129.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Primerica by 116.2% during the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. lifted its stake in Primerica by 65.5% in the 4th 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 in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Primerica by 52.7% in the 3rd 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 last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Trading Up 1.3 %

PRI stock traded up $3.17 during midday trading on Friday, hitting $251.76. 189,392 shares of the company's stock were exchanged, compared to its average volume of 169,483. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The business has a 50-day simple moving average of $279.38 and a two-hundred day simple moving average of $281.94. The stock has a market capitalization of $8.33 billion, a PE ratio of 18.31 and a beta of 1.03.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share 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%. As a group, research analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.65%. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica's dividend payout ratio is 30.25%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PRI shares. BMO Capital Markets started coverage on Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. Morgan Stanley lowered their target price on shares of 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 cut shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Piper Sandler dropped their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Primerica has a consensus rating of "Hold" and a consensus target price of $309.14.

Insider Transactions at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last ninety days. Company insiders own 0.85% of the company's stock.

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.