Primerica, Inc. (NYSE:PRI) Stock Position Decreased by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Primerica, Inc. (NYSE:PRI) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,922 shares of the financial services provider’s stock after selling 246 shares during the quarter. Amalgamated Bank’s holdings in Primerica were worth $4,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its position 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 valued at $184,807,000 after buying an additional 25,951 shares during the last quarter. Barclays PLC grew its position in shares of Primerica by 108.1% during the 3rd 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 bought a new stake in shares of Primerica during the 4th quarter valued at about $543,000. Oak Thistle LLC grew its position in shares of Primerica by 64.9% during the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after buying an additional 1,943 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Primerica by 4,150.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,123 shares of the financial services provider’s stock valued at $1,120,000 after buying an additional 4,026 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 3,000 shares of the 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 sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $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 is available at the SEC website. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

PRI has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets began coverage on shares of Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Morgan Stanley reduced 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 note on Friday. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Tuesday, February 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, the stock currently has an average rating of “Hold” and a consensus target price of $309.86.

Primerica Trading Up 2.0 %

Shares of NYSE:PRI opened at $289.86 on Friday. The company has a 50 day moving average of $282.64 and a 200-day moving average of $277.96. The firm has a market cap of $9.67 billion, a P/E ratio of 21.08 and a beta of 1.11. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica announced that its board has approved a stock repurchase plan on Thursday, November 14th that allows the company to buyback $450.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be paid a $1.04 dividend. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, February 21st. Primerica’s dividend payout ratio is currently 30.25%.

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.