Primerica, Inc. (NYSE:PRI) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,438 shares of the financial services provider's stock after selling 1,428 shares during the quarter. Granite Investment Partners LLC's holdings in Primerica were worth $3,647,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Primerica in the fourth quarter valued at $34,191,000. Geode Capital Management LLC increased its holdings in shares of Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock valued at $211,691,000 after purchasing an additional 82,921 shares during the period. FIL Ltd raised its stake in shares of Primerica by 85.5% during the fourth quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock worth $35,655,000 after purchasing an additional 60,565 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Primerica by 59.4% during the fourth quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider's stock worth $30,323,000 after purchasing an additional 41,612 shares during the period. Finally, SVB Wealth LLC purchased a new position in Primerica in the 4th quarter valued at $10,703,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Performance

NYSE PRI traded down $1.06 during mid-day trading on Friday, reaching $254.05. 105,764 shares of the stock were exchanged, compared to its average volume of 160,559. The business's fifty day simple moving average is $275.50 and its 200 day simple moving average is $281.50. The stock has a market capitalization of $8.41 billion, a PE ratio of 18.48 and a beta of 1.03. Primerica, Inc. has a 1-year low of $210.94 and a 1-year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts' consensus estimates 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 anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a $1.04 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.64%. Primerica's dividend payout ratio (DPR) is 30.25%.

Analysts Set New Price Targets

Several research firms have recently commented on PRI. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. 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 target price for the company. Morgan Stanley decreased their price target 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. Finally, Keefe, Bruyette & Woods reduced their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $309.14.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm'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 transaction of $845,220.00. Following the completion of the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the firm's 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 directly owns 13,301 shares of the company's stock, valued at $3,762,852.90. The trade was a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock worth $1,476,575 over the last quarter. 0.85% of the stock is owned by corporate insiders.

Primerica Company 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.