California Public Employees Retirement System Purchases 1,359 Shares of Primerica, Inc. (NYSE:PRI)

California Public Employees Retirement System raised its holdings in shares of Primerica, Inc. (NYSE:PRI – Get Rating) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,695 shares of the financial services provider’s stock after purchasing an additional 1,359 shares during the period. California Public Employees Retirement System owned 0.25% of Primerica worth $13,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRI. U.S. Capital Wealth Advisors LLC purchased a new position in Primerica during the 4th quarter worth $28,000. Covestor Ltd grew its stake in Primerica by 74.7% during the 1st quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after buying an additional 109 shares during the last quarter. FourThought Financial LLC grew its stake in Primerica by 36.0% during the 3rd quarter. FourThought Financial LLC now owns 487 shares of the financial services provider’s stock worth $60,000 after buying an additional 129 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Primerica during the 2nd quarter worth approximately $69,000. Finally, Mendota Financial Group LLC purchased a new stake in Primerica during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Primerica Stock Performance

Shares of NYSE PRI opened at $180.81 on Monday. The company’s fifty day moving average price is $173.35 and its 200 day moving average price is $159.25. Primerica, Inc. has a 1 year low of $110.22 and a 1 year high of $195.69. The company has a market capitalization of $6.55 billion, a PE ratio of 16.32 and a beta of 1.18.

Primerica (NYSE:PRI – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.04. The company had revenue of $690.04 million for the quarter, compared to the consensus estimate of $697.61 million. Primerica had a return on equity of 28.34% and a net margin of 15.33%. Primerica’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.11 earnings per share. On average, equities analysts expect that Primerica, Inc. will post 15.17 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Monday, May 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 19th. Primerica’s payout ratio is 23.47%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley boosted their price target on Primerica from $150.00 to $162.00 and gave the company an “equal weight” rating in a research note on Friday, February 24th. Raymond James initiated coverage on shares of Primerica in a report on Wednesday, April 12th. They issued a “strong-buy” rating and a $244.00 price objective on the stock. Truist Financial upped their price objective on shares of Primerica from $210.00 to $220.00 in a report on Thursday. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a report on Friday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Primerica from $167.00 to $195.00 and gave the company a “market perform” rating in a report on Wednesday, March 1st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.25.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $175.47, for a total value of $614,145.00. Following the transaction, the president now owns 12,252 shares in the company, valued at $2,149,858.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Peter W. Schneider sold 3,500 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $175.47, for a total value of $614,145.00. Following the transaction, the president now directly owns 12,252 shares of the company’s stock, valued at $2,149,858.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alison S. Rand sold 9,800 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $185.66, for a total transaction of $1,819,468.00. Following the completion of the transaction, the chief financial officer now directly owns 13,944 shares in the company, valued at $2,588,843.04. The disclosure for this sale can be found here. Insiders have sold a total of 39,168 shares of company stock valued at $7,238,391 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

About Primerica

(Get Rating)

Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, Senior Health, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.