Primerica, Inc. (NYSE:PRI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 10.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,166 shares of the financial services provider’s stock after buying an additional 764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Primerica were worth $1,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Lecap Asset Management Ltd. bought a new stake in shares of Primerica in the 4th quarter worth approximately $305,000. Louisiana State Employees Retirement System bought a new stake in Primerica in the fourth quarter valued at $2,016,000. ORG Partners LLC acquired a new position in shares of Primerica during the fourth quarter valued at $26,000. Sapient Capital LLC acquired a new position in shares of Primerica during the fourth quarter valued at $474,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Primerica by 20,472.7% in the 4th quarter. International Assets Investment Management LLC now owns 2,263 shares of the financial services provider’s stock worth $466,000 after acquiring an additional 2,252 shares during the period. Institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PRI. Morgan Stanley boosted their target price on shares of 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 target price on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Primerica has an average rating of “Hold” and a consensus target price of $245.50.

Insider Transactions at Primerica

In other news, COO Gregory C. Pitts sold 3,759 shares of Primerica stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $245.43, for a total value of $922,571.37. Following the transaction, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at $829,307.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the sale, the insider now directly owns 100 shares of the company’s stock, valued at approximately $24,981. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Gregory C. Pitts sold 3,759 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $245.43, for a total value of $922,571.37. Following the completion of the sale, the chief operating officer now directly owns 3,379 shares of the company’s stock, valued at approximately $829,307.97. The disclosure for this sale can be found here. Insiders sold a total of 6,708 shares of company stock valued at $1,648,677 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

Primerica Stock Performance

Shares of PRI stock opened at $221.92 on Thursday. Primerica, Inc. has a 1 year low of $173.00 and a 1 year high of $256.56. The business’s fifty day moving average is $242.03 and its 200-day moving average is $222.57. The stock has a market cap of $7.70 billion, a PE ratio of 13.97 and a beta of 1.06.

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

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, February 20th. This is an increase from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio is 18.89%.

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.