Raymond James Financial Inc. Acquires New Holdings in Primerica, Inc. (NYSE:PRI)

Raymond James Financial Inc. purchased a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 125,972 shares of the financial services provider's stock, valued at approximately $34,191,000. Raymond James Financial Inc. owned approximately 0.38% of Primerica at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 25,951 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock valued at $32,573,000 after purchasing an additional 11,612 shares during the last quarter. Prospector Partners LLC boosted its position in Primerica by 0.3% in the third quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider's stock valued at $20,431,000 after buying an additional 210 shares in the last quarter. Stifel Financial Corp grew its stake in Primerica by 0.5% during the third quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider's stock worth $16,965,000 after buying an additional 333 shares during the last quarter. Finally, Running Oak Capital LLC increased its holdings in shares of Primerica by 3.7% during the fourth quarter. Running Oak Capital LLC now owns 53,644 shares of the financial services provider's stock worth $14,560,000 after buying an additional 1,919 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

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Primerica Price Performance

Shares of NYSE PRI traded up $5.47 during mid-day trading on Monday, hitting $290.84. The company's stock had a trading volume of 188,403 shares, compared to its average volume of 153,752. Primerica, Inc. has a one year low of $184.76 and a one year high of $307.91. The company's fifty day simple moving average is $284.60 and its 200-day simple moving average is $279.81. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 21.15 and a beta of 1.12.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS 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 paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.43%. Primerica's payout ratio is 30.25%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price on the stock. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Morgan Stanley decreased their price objective 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. Finally, Piper Sandler dropped their target price on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $309.86.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of the company'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 directly owns 13,301 shares of the company's stock, 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 quarter, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% 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.