Norges Bank Purchases New Shares in Primerica, Inc. (NYSE:PRI)

Norges Bank purchased a new stake in shares of Primerica, Inc. (NYSE:PRIFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 151,602 shares of the financial services provider’s stock, valued at approximately $31,194,000. Norges Bank owned 0.43% of Primerica as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. PFW Advisors LLC raised its holdings in Primerica by 3.8% during the 4th quarter. PFW Advisors LLC now owns 1,521 shares of the financial services provider’s stock valued at $313,000 after buying an additional 56 shares during the period. Arizona State Retirement System grew its position in Primerica by 0.6% in the 3rd quarter. Arizona State Retirement System now owns 10,314 shares of the financial services provider’s stock valued at $2,001,000 after acquiring an additional 60 shares during the last quarter. Everhart Financial Group Inc. grew its position in Primerica by 4.5% in the 4th quarter. Everhart Financial Group Inc. now owns 1,614 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 69 shares during the last quarter. Treasurer of the State of North Carolina grew its position in Primerica by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 15,933 shares of the financial services provider’s stock valued at $3,091,000 after acquiring an additional 80 shares during the last quarter. Finally, ORG Partners LLC bought a new position in Primerica in the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the sale, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Nicholas Adam Jendusa sold 234 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now directly owns 100 shares in the company, valued at $24,981. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares of the company’s stock, valued at $3,227,373.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,993 shares of company stock worth $1,687,302. 0.85% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on PRI. Keefe, Bruyette & Woods upped their price objective on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Morgan Stanley increased their price target on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Truist Financial increased their price target on Primerica from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $245.50.

View Our Latest Stock Report on Primerica

Primerica Price Performance

Shares of PRI stock opened at $225.89 on Friday. Primerica, Inc. has a 1-year low of $180.65 and a 1-year high of $256.56. The stock’s 50-day moving average is $228.34 and its 200 day moving average is $226.40. The company has a market cap of $7.77 billion, a P/E ratio of 13.75 and a beta of 1.10.

Primerica (NYSE:PRIGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The company had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. During the same period in the previous year, the business earned $3.49 EPS. Primerica’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Primerica, Inc. will post 17.66 EPS for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 21st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, May 20th. Primerica’s dividend payout ratio (DPR) is presently 18.26%.

About Primerica

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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