Norges Bank Purchases Shares of 7,021 Primerica, Inc. (NYSE:PRI)

Norges Bank bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,021 shares of the financial services provider's stock, valued at approximately $1,906,000.

Several other large investors also recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in shares of Primerica by 14.9% in the 3rd quarter. Captrust Financial Advisors now owns 1,413 shares of the financial services provider's stock valued at $375,000 after purchasing an additional 183 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Primerica in the 3rd quarter worth $382,000. Quantinno Capital Management LP boosted its holdings in shares of Primerica by 66.9% in the 3rd quarter. Quantinno Capital Management LP now owns 5,150 shares of the financial services provider's stock worth $1,366,000 after buying an additional 2,065 shares during the last quarter. Jane Street Group LLC increased its holdings in Primerica by 6.3% in the 3rd quarter. Jane Street Group LLC now owns 30,806 shares of the financial services provider's stock worth $8,168,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its holdings in Primerica by 72.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,501 shares of the financial services provider's stock valued at $663,000 after buying an additional 1,050 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Trading Up 0.8 %

Shares of PRI traded up $1.97 during trading hours on Thursday, reaching $257.08. The company had a trading volume of 15,640 shares, compared to its average volume of 166,768. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The firm has a 50 day simple moving average of $277.02 and a 200-day simple moving average of $281.66. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 18.73 and a beta of 1.03.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results 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 return on equity of 31.11% and a net margin of 15.14%. Sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors 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 dividend yield of 1.62%. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is currently 30.25%.

Insider Buying and Selling

In related 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 value of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares of the company's stock, valued at $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 in the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler lowered their price target 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. StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Morgan Stanley decreased their target price on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $309.14.

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.