Primerica, Inc. (NYSE:PRI) Shares Acquired by Zacks Investment Management

Zacks Investment Management grew its holdings in shares of Primerica, Inc. (NYSE:PRI) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,991 shares of the financial services provider’s stock after purchasing an additional 356 shares during the period. Zacks Investment Management’s holdings in Primerica were worth $4,069,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PRI. Barclays PLC raised its stake in Primerica by 108.1% in the third quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 10,635 shares during the last quarter. Sylvest Advisors LLC acquired a new position in shares of Primerica during the fourth quarter valued at about $543,000. Oak Thistle LLC raised its position in shares of Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 1,943 shares during the last quarter. California Public Employees Retirement System boosted its stake 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 worth $30,323,000 after purchasing an additional 41,612 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Primerica by 10.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock worth $32,573,000 after purchasing an additional 11,612 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insider Activity at Primerica

In other Primerica news, 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 transaction of $65,555.10. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $56,030. This represents a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the business’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 value of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares of the company’s stock, valued at $3,762,852.90. This trade represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 report on Friday, February 28th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Finally, Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $309.14.

Primerica Stock Performance

Shares of PRI opened at $254.05 on Friday. The business’s 50-day moving average is $276.24 and its two-hundred day moving average is $281.58. The company has a market capitalization of $8.41 billion, a P/E ratio of 18.48 and a beta of 1.03. Primerica, Inc. has a fifty-two week low of $184.76 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS 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%. Analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.64%. This is a positive change from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s payout ratio is 30.25%.

Primerica Company 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.