Primerica, Inc. (NYSE:PRI) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. lifted its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,354 shares of the financial services provider's stock after buying an additional 6,874 shares during the quarter. Prudential Financial Inc. owned 0.08% of Primerica worth $7,857,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Primerica during the fourth quarter valued at approximately $34,191,000. SVB Wealth LLC acquired a new stake in Primerica during the 4th quarter valued at $10,703,000. Strategic Financial Concepts LLC purchased a new stake in Primerica during the 4th quarter worth $8,767,000. Amundi acquired a new position in Primerica in the 4th quarter worth $7,868,000. Finally, Geode Capital Management LLC boosted its position in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock valued at $184,807,000 after buying an additional 25,951 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Primerica

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were 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 in the company, valued at approximately $56,030. This represents a 53.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the firm's stock in a transaction that occurred 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. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

PRI has been the topic of several recent analyst reports. BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. Morgan Stanley decreased their price target 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. Keefe, Bruyette & Woods upped their price target 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. Finally, StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Six 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.com, the company currently has a consensus rating of "Hold" and an average price target of $309.86.

Primerica Stock Performance

Shares of NYSE PRI traded up $3.15 during midday trading on Wednesday, hitting $291.20. The company's stock had a trading volume of 154,409 shares, compared to its average volume of 165,742. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The firm's fifty day moving average price is $286.07 and its 200-day moving average price is $282.49. The firm has a market cap of $9.68 billion, a P/E ratio of 21.18 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results 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, research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $1.04 dividend. The ex-dividend date was Friday, February 21st. 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 1.43%. Primerica's dividend payout ratio (DPR) is currently 30.25%.

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.