Primerica, Inc. (NYSE:PRI) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,729 shares of the financial services provider's stock after purchasing an additional 2,770 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.05% of Primerica worth $4,812,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRI. Raymond James Financial Inc. acquired a new position in shares of Primerica during the fourth quarter worth $34,191,000. Geode Capital Management LLC increased its holdings in shares of Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock valued at $211,691,000 after acquiring an additional 82,921 shares during the last quarter. FIL Ltd raised its position in shares of Primerica by 85.5% during the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock worth $35,655,000 after acquiring an additional 60,565 shares in the last quarter. California Public Employees Retirement System lifted its stake in Primerica by 59.4% during the fourth quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock worth $30,323,000 after purchasing an additional 41,612 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in Primerica in the fourth quarter valued at approximately $10,703,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the sale, the president now owns 13,301 shares of the company's stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % 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 three months. Insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

PRI has been the topic of a number of research analyst reports. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. BMO Capital Markets assumed 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. Keefe, Bruyette & Woods cut their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Finally, Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. 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 a consensus rating of "Hold" and an average target price of $309.14.

Primerica Price Performance

Shares of NYSE:PRI traded up $0.48 on Tuesday, reaching $264.76. The company's stock had a trading volume of 132,324 shares, compared to its average volume of 157,873. Primerica, Inc. has a 52-week low of $211.53 and a 52-week high of $307.91. The stock has a market capitalization of $8.76 billion, a P/E ratio of 19.26 and a beta of 1.03. The stock's 50-day moving average is $272.67 and its two-hundred day moving average is $281.04.

Primerica (NYSE:PRI - Get Free Report) last posted 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%. Equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This is an increase from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 1.57%. Primerica's dividend payout ratio (DPR) is currently 30.25%.

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.