Mitsubishi UFJ Trust & Banking Corp Acquires 2,262 Shares of Primerica, Inc. (NYSE:PRI)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,901 shares of the financial services provider's stock after acquiring an additional 2,262 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Primerica worth $4,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in Primerica in the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after acquiring an additional 71 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 115 shares in 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 worth $65,000 after purchasing an additional 95 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Primerica by 629.2% during the 3rd quarter. Quarry LP now owns 350 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BMO Capital Markets began 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. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Morgan Stanley lowered their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, Piper Sandler reduced their target price 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $309.86.

Primerica Stock Down 5.3 %

Primerica stock traded down $15.48 during midday trading on Thursday, reaching $275.14. The stock had a trading volume of 406,286 shares, compared to its average volume of 166,957. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 20.01 and a beta of 1.12. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The company has a fifty day moving average of $285.75 and a 200 day moving average of $282.44.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly 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 return on equity of 31.11% and a net margin of 15.14%. Equities research analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.51%. This is an increase from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica's dividend payout ratio (DPR) is 30.25%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. 0.61% of the stock is currently owned by company 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.