Invesco Ltd. Cuts Stock Holdings in Primerica, Inc. (NYSE:PRI)

Invesco Ltd. lessened its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 67.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,303 shares of the financial services provider's stock after selling 280,948 shares during the quarter. Invesco Ltd. owned about 0.41% of Primerica worth $37,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Primerica during the fourth quarter valued at about $34,191,000. Geode Capital Management LLC raised its holdings in Primerica by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock worth $211,691,000 after purchasing an additional 82,921 shares in the last quarter. California Public Employees Retirement System raised its stake in Primerica by 59.4% in 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 buying an additional 41,612 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Primerica in the 4th quarter valued at approximately $10,703,000. Finally, Strategic Financial Concepts LLC purchased a new position in Primerica during the fourth quarter valued at $8,767,000. Institutional investors own 90.88% of the company's stock.

Primerica Trading Up 3.0 %

PRI traded up $7.35 on Tuesday, hitting $254.43. 128,307 shares of the company's stock traded hands, compared to its average volume of 159,142. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 18.50 and a beta of 1.03. Primerica, Inc. has a one year low of $211.53 and a one year high of $307.91. The company's 50 day simple moving average is $274.26 and its 200-day simple moving average is $281.32.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (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%. As a group, equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. This is an increase from Primerica's previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.64%. Primerica's dividend payout ratio (DPR) is presently 30.25%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRI shares. BMO Capital Markets started coverage on Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $309.14.

Insider Transactions at Primerica

In related news, President Peter W. Schneider sold 2,000 shares of the business'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 value of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction on 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 sale, the insider now owns 200 shares of the company's stock, valued at $56,030. This represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is currently owned by company 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.