Apollon Wealth Management LLC Buys Shares of 3,612 Primerica, Inc. (NYSE:PRI)

Apollon Wealth Management LLC bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,612 shares of the financial services provider's stock, valued at approximately $743,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its holdings in shares of Primerica by 3.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,367 shares of the financial services provider's stock valued at $459,000 after acquiring an additional 75 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Primerica by 6.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,271 shares of the financial services provider's stock worth $441,000 after purchasing an additional 143 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Primerica by 1.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider's stock valued at $726,000 after buying an additional 59 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Primerica in the 3rd quarter valued at about $284,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Primerica by 15.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,402 shares of the financial services provider's stock worth $1,436,000 after buying an additional 982 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Trading Up 1.5 %

NYSE:PRI traded up $3.25 during trading hours on Friday, reaching $223.77. 139,087 shares of the company were exchanged, compared to its average volume of 307,342. The stock's 50-day moving average is $235.06 and its 200-day moving average is $223.79. The firm has a market cap of $7.70 billion, a PE ratio of 13.62 and a beta of 1.10. Primerica, Inc. has a twelve month low of $178.06 and a twelve month high of $256.56.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Monday, May 6th. The financial services provider reported $3.91 EPS for the quarter, missing analysts' consensus estimates of $4.12 by ($0.21). The business had revenue of $742.83 million during the quarter, compared to analyst estimates of $740.57 million. Primerica had a net margin of 20.44% and a return on equity of 27.35%. Primerica's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $3.49 earnings per share. As a group, research analysts anticipate that Primerica, Inc. will post 17.61 EPS for the current year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, May 20th. Primerica's dividend payout ratio is currently 18.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Primerica from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $255.00 to $260.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 10th. Truist Financial upped their price objective on shares of Primerica from $260.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, February 15th. Raymond James downgraded shares of Primerica from a "strong-buy" rating to a "market perform" rating in a report on Monday, February 12th. Finally, StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $245.50.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the sale, the insider now owns 100 shares of the company's stock, valued at $24,981. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Primerica news, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the transaction, the president now owns 13,259 shares of the company's stock, valued at $3,227,373.19. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total transaction of $58,455.54. Following the transaction, the insider now directly owns 100 shares of the company's stock, valued at approximately $24,981. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,708 shares of company stock valued at $1,648,677. 0.85% of the stock is 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.