Geode Capital Management LLC Purchases 82,921 Shares of Primerica, Inc. (NYSE:PRI)

Geode Capital Management LLC grew its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 779,760 shares of the financial services provider's stock after acquiring an additional 82,921 shares during the quarter. Geode Capital Management LLC owned about 2.34% of Primerica worth $211,691,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Primerica by 100.1% in the 4th quarter. Franklin Resources Inc. now owns 26,680 shares of the financial services provider's stock worth $7,241,000 after acquiring an additional 13,348 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Primerica by 10.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,342 shares of the financial services provider's stock worth $1,993,000 after purchasing an additional 706 shares in the last quarter. Brandywine Global Investment Management LLC raised its stake in shares of Primerica by 1.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 27,490 shares of the financial services provider's stock worth $7,461,000 after purchasing an additional 497 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in Primerica by 10.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 813 shares of the financial services provider's stock worth $226,000 after buying an additional 78 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Primerica by 59.4% in the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock worth $30,323,000 after buying an additional 41,612 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Piper Sandler dropped their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday. BMO Capital Markets initiated coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective on the stock. Finally, StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $309.14.

Insider Buying and Selling at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

Primerica Trading Up 1.3 %

Primerica stock traded up $3.17 during midday trading on Friday, hitting $251.76. The stock had a trading volume of 189,392 shares, compared to its average volume of 169,483. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The company has a market capitalization of $8.33 billion, a PE ratio of 18.31 and a beta of 1.03. The firm's fifty day moving average is $279.38 and its two-hundred day moving average is $281.94.

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

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio is presently 30.25%.

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.