Primerica, Inc. (NYSE:PRI) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 69.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,488 shares of the financial services provider's stock after purchasing an additional 4,307 shares during the period. LPL Financial LLC's holdings in Primerica were worth $2,847,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Raymond James Financial Inc. purchased a new position in Primerica in the 4th quarter valued at about $34,191,000. SVB Wealth LLC acquired a new position in Primerica in the 4th quarter valued at $10,703,000. Strategic Financial Concepts LLC purchased a new position in shares of Primerica during the 4th quarter worth $8,767,000. Amundi acquired a new stake in shares of Primerica during the fourth quarter worth $7,868,000. Finally, Geode Capital Management LLC grew its position in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider's stock valued at $184,807,000 after purchasing an additional 25,951 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Primerica

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now owns 200 shares in the company, valued at $56,030. This trade represents a 53.92 % 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 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 value of $565,800.00. Following the sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,234 shares of company stock valued at $1,476,575. Corporate insiders own 0.85% of the company's stock.

Primerica Stock Performance

Primerica stock traded up $1.28 during trading on Thursday, reaching $256.39. 12,597 shares of the company's stock were exchanged, compared to its average volume of 170,977. The company's 50-day moving average is $277.02 and its two-hundred day moving average is $281.66. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $307.91. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 18.54 and a beta of 1.03.

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

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were given a dividend of $1.04 per share. This is a boost from Primerica's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's payout ratio is presently 30.25%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PRI shares. 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. 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. Keefe, Bruyette & Woods cut 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. Piper Sandler lowered their price objective on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. Finally, StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and an average price target of $309.14.

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.