California Public Employees Retirement System Reduces Position in Primerica, Inc. (NYSE:PRI)

California Public Employees Retirement System trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,833 shares of the financial services provider’s stock after selling 3,753 shares during the quarter. California Public Employees Retirement System owned about 0.25% of Primerica worth $17,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. PFW Advisors LLC boosted its stake in Primerica by 3.8% during the fourth quarter. PFW Advisors LLC now owns 1,521 shares of the financial services provider’s stock worth $313,000 after buying an additional 56 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Primerica by 1.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 59 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Primerica by 0.6% in the third quarter. Arizona State Retirement System now owns 10,314 shares of the financial services provider’s stock valued at $2,001,000 after purchasing an additional 60 shares during the period. Everhart Financial Group Inc. increased its position in Primerica by 4.5% during the fourth quarter. Everhart Financial Group Inc. now owns 1,614 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 69 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its position in Primerica by 4.2% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,774 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 71 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the transaction, the director now owns 16,467 shares in the company, valued at $4,100,283. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John A. Jr. Addison sold 1,215 shares of Primerica stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the transaction, the director now owns 16,467 shares in the company, valued at approximately $4,100,283. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gregory C. Pitts sold 3,759 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $245.43, for a total transaction of $922,571.37. Following the sale, the chief operating officer now owns 3,379 shares in the company, valued at $829,307.97. The disclosure for this sale can be found here. Insiders have sold a total of 6,708 shares of company stock valued at $1,648,677 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PRI shares. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Raymond James cut Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Morgan Stanley upped their price target on Primerica from $245.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Truist Financial raised their price objective on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Primerica has a consensus rating of “Hold” and an average price target of $245.50.

Primerica Stock Up 0.6 %

NYSE:PRI opened at $214.68 on Tuesday. Primerica, Inc. has a 52 week low of $173.00 and a 52 week high of $256.56. The stock’s fifty day moving average is $240.21 and its two-hundred day moving average is $223.00. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 13.52 and a beta of 1.06.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.27 by ($0.02). The firm had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. Primerica’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 EPS. On average, sell-side analysts expect that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Primerica’s previous quarterly dividend of $0.65. Primerica’s payout ratio is 18.89%.

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.