Wells Fargo & Company MN Has $94.92 Million Holdings in Primerica, Inc. (NYSE:PRI)

Wells Fargo & Company MN lowered its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 349,714 shares of the financial services provider's stock after selling 26,454 shares during the quarter. Wells Fargo & Company MN owned 1.05% of Primerica worth $94,919,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock valued at $211,691,000 after acquiring an additional 82,921 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Primerica during the fourth quarter worth about $34,191,000. Los Angeles Capital Management LLC boosted its position in shares of Primerica by 10.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider's stock worth $32,573,000 after buying an additional 11,612 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Primerica by 11.4% during the fourth quarter. JPMorgan Chase & Co. now owns 117,308 shares of the financial services provider's stock worth $31,840,000 after buying an additional 11,996 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Primerica by 59.4% in the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock valued at $30,323,000 after buying an additional 41,612 shares during the last quarter. Institutional investors own 90.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research note on Wednesday. Morgan Stanley decreased their target price 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. BMO Capital Markets initiated coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target on the stock. Piper Sandler decreased their price objective on Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Finally, StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $309.14.

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % 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 ninety days. 0.85% of the stock is currently owned by company insiders.

Primerica Stock Up 1.3 %

Shares of PRI stock traded up $3.17 on Friday, reaching $251.76. The stock had a trading volume of 189,392 shares, compared to its average volume of 169,082. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 18.31 and a beta of 1.03. The firm's 50-day moving average is $279.38 and its two-hundred day moving average is $282.05.

Primerica (NYSE:PRI - Get Free Report) last released 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 return on equity of 31.11% and a net margin of 15.14%. On average, sell-side analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 1.65%. The ex-dividend date was Friday, February 21st. Primerica's payout ratio 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.