Primerica, Inc. (NYSE:PRI) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System grew its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 59.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,720 shares of the financial services provider's stock after purchasing an additional 41,612 shares during the quarter. California Public Employees Retirement System owned approximately 0.33% of Primerica worth $30,323,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PRI. Cerity Partners LLC purchased a new position in shares of Primerica in the 3rd quarter valued at about $983,000. Quantbot Technologies LP purchased a new stake in shares of Primerica in the third quarter valued at approximately $426,000. BNP Paribas Financial Markets raised its stake in shares of Primerica by 320.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,750 shares of the financial services provider's stock worth $1,525,000 after buying an additional 4,383 shares during the period. Townsquare Capital LLC purchased a new position in shares of Primerica during the 3rd quarter valued at approximately $225,000. Finally, Captrust Financial Advisors grew its stake in 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 acquiring an additional 183 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Stock Down 9.9 %

NYSE:PRI traded down $27.28 on Friday, hitting $248.16. The stock had a trading volume of 296,228 shares, compared to its average volume of 167,966. The company has a fifty day moving average price of $284.91 and a two-hundred day moving average price of $282.75. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 18.05 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. As a group, analysts anticipate 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 issued a $1.04 dividend. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's payout ratio is 30.25%.

Analyst Upgrades and Downgrades

PRI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Piper Sandler decreased their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 18th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. 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. Finally, Morgan Stanley lowered their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $309.86.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was 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 valued at $1,476,575 over the last 90 days. 0.61% of the stock is owned by insiders.

Primerica 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.