Canada Pension Plan Investment Board Makes New $1.98 Million Investment in Primerica, Inc. (NYSE:PRI)

Canada Pension Plan Investment Board acquired a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,300 shares of the financial services provider's stock, valued at approximately $1,981,000.

A number of other institutional investors also recently bought and sold shares of PRI. Barclays PLC boosted its position in shares of Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock worth $5,428,000 after buying an additional 10,635 shares in the last quarter. SkyView Investment Advisors LLC raised its position in Primerica by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,408 shares of the financial services provider's stock worth $1,699,000 after acquiring an additional 137 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Primerica in the third quarter valued at about $336,000. Forthright Family Wealth Advisory LLC acquired a new stake in shares of Primerica in the third quarter valued at approximately $202,000. Finally, GAMMA Investing LLC increased its stake in shares of Primerica by 14.9% during the 4th quarter. GAMMA Investing LLC now owns 1,128 shares of the financial services provider's stock worth $306,000 after purchasing an additional 146 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRI shares. Keefe, Bruyette & Woods lowered their target price on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley decreased their price objective on Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Finally, 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 price target on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $309.14.

Primerica Price Performance

NYSE:PRI traded down $2.89 during trading hours on Tuesday, reaching $261.39. 18,299 shares of the company were exchanged, compared to its average volume of 157,419. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 19.03 and a beta of 1.03. The stock has a 50 day simple moving average of $272.67 and a 200 day simple moving average of $281.04. Primerica, Inc. has a 52-week low of $211.53 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is 30.25%.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is currently owned by company insiders.

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.