Pinebridge Investments L.P. Purchases 2,770 Shares of Primerica, Inc. (NYSE:PRI)

Pinebridge Investments L.P. lifted its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 18.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,729 shares of the financial services provider's stock after acquiring an additional 2,770 shares during the period. Pinebridge Investments L.P. owned 0.05% of Primerica worth $4,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRI. Barclays PLC boosted its holdings in Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider's stock valued at $5,428,000 after purchasing an additional 10,635 shares during the period. SkyView Investment Advisors LLC grew its position in Primerica by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,408 shares of the financial services provider's stock worth $1,699,000 after buying an additional 137 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Primerica during the third quarter worth about $336,000. Forthright Family Wealth Advisory LLC bought a new position in Primerica during the third quarter valued at about $202,000. Finally, GAMMA Investing LLC raised its holdings in Primerica by 14.9% in the 4th quarter. GAMMA Investing LLC now owns 1,128 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 146 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction 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 transaction, the president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock worth $1,476,575 in the last 90 days. Corporate insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com lowered Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 target price on the stock. Keefe, Bruyette & Woods decreased their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley dropped their target price on Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Six 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 company currently has an average rating of "Hold" and an average target price of $309.14.

Primerica Stock Performance

NYSE:PRI traded down $5.90 during mid-day trading on Wednesday, hitting $258.91. The company had a trading volume of 99,613 shares, compared to its average volume of 157,545. The business's fifty day moving average is $272.35 and its two-hundred day moving average is $280.93. Primerica, Inc. has a fifty-two week low of $211.53 and a fifty-two week high of $307.91. The firm has a market cap of $8.57 billion, a P/E ratio of 18.83 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 for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. Equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently declared 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. The ex-dividend date was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Primerica's previous quarterly dividend of $0.90. Primerica's dividend payout ratio (DPR) is currently 30.25%.

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.