8,000 Shares in Primerica, Inc. (NYSE:PRI) Purchased by OFI Invest Asset Management

OFI Invest Asset Management purchased a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,000 shares of the financial services provider's stock, valued at approximately $2,097,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Amundi bought a new position in Primerica during the fourth quarter valued at approximately $7,868,000. PNC Financial Services Group Inc. grew its position in Primerica by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,604 shares of the financial services provider's stock valued at $1,521,000 after acquiring an additional 116 shares during the last quarter. Edgestream Partners L.P. grew its holdings in shares of Primerica by 3.2% in the fourth quarter. Edgestream Partners L.P. now owns 19,745 shares of the financial services provider's stock worth $5,359,000 after purchasing an additional 614 shares during the last quarter. Callan Family Office LLC grew its holdings in shares of Primerica by 273.8% in the fourth quarter. Callan Family Office LLC now owns 5,024 shares of the financial services provider's stock worth $1,364,000 after purchasing an additional 3,680 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Primerica in the fourth quarter worth approximately $34,191,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

NYSE:PRI traded down $0.75 during trading hours on Thursday, hitting $276.80. The company had a trading volume of 111,130 shares, compared to its average volume of 143,991. The company has a market capitalization of $9.20 billion, a PE ratio of 20.13 and a beta of 1.12. The stock has a 50-day moving average price of $284.31 and a 200 day moving average price of $279.39. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91.

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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, beating 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%. Analysts anticipate 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 will be paid on Friday, March 14th. Shareholders of record on Friday, February 21st will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.50%. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is currently 30.25%.

Primerica declared that its board has initiated a stock repurchase program on Thursday, November 14th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRI. BMO Capital Markets began coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. Morgan Stanley cut their target price on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. TD Cowen raised their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price 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, Piper Sandler cut their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $309.86.

Insider Buying and Selling at Primerica

In other news, 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 transaction, the insider now owns 200 shares of the company's stock, valued at $56,030. The trade was a 53.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company's stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.85% of the stock is currently owned by company insiders.

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.