Primerica, Inc. (NYSE:PRI) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 50.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 90,498 shares of the financial services provider's stock after purchasing an additional 30,498 shares during the period. Renaissance Technologies LLC owned about 0.27% of Primerica worth $24,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRI. Captrust Financial Advisors grew its stake in Primerica by 14.9% in the third quarter. Captrust Financial Advisors now owns 1,413 shares of the financial services provider's stock valued at $375,000 after purchasing an additional 183 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Primerica by 6.3% in the 3rd quarter. Jane Street Group LLC now owns 30,806 shares of the financial services provider's stock valued at $8,168,000 after buying an additional 1,830 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Primerica by 72.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,501 shares of the financial services provider's stock valued at $663,000 after buying an additional 1,050 shares in the last quarter. Barclays PLC grew its position in shares of Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock worth $5,428,000 after buying an additional 10,635 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock worth $184,807,000 after acquiring an additional 25,951 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

PRI stock traded down $1.06 during midday trading on Friday, reaching $254.05. The stock had a trading volume of 105,764 shares, compared to its average volume of 166,719. The firm has a fifty day simple moving average of $276.24 and a two-hundred day simple moving average of $281.58. The stock has a market cap of $8.41 billion, a PE ratio of 18.48 and a beta of 1.03. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a $1.04 dividend. 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 1.64%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's dividend payout ratio is 30.25%.

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now directly owns 33,322 shares of the company's stock, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction 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 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PRI shares. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price for the company. Keefe, Bruyette & Woods lowered their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Finally, Morgan Stanley decreased their price target on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Six 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 $309.14.

About Primerica

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.