Raymond James Financial Inc. Buys New Holdings in Primerica, Inc. (NYSE:PRI)

Raymond James Financial Inc. purchased a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 125,972 shares of the financial services provider's stock, valued at approximately $34,191,000. Raymond James Financial Inc. owned 0.38% of Primerica at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC acquired a new stake in Primerica during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Primerica by 129.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider's stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Primerica by 116.2% in the 4th quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider's stock worth $58,000 after purchasing an additional 115 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Primerica by 65.5% during the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider's stock worth $65,000 after purchasing an additional 95 shares during the period. Finally, Allworth Financial LP increased its holdings in Primerica by 27.3% in the fourth quarter. Allworth Financial LP now owns 331 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 71 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Stock Up 3.0 %

PRI traded up $7.35 during trading on Tuesday, hitting $254.43. The company had a trading volume of 128,307 shares, compared to its average volume of 159,142. The company has a market capitalization of $8.42 billion, a PE 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 firm's 50-day moving average price is $274.26 and its 200 day moving average price is $281.32.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 31.11% and a net margin of 15.14%. Sell-side 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 paid 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 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, February 21st. Primerica's dividend payout ratio (DPR) is currently 30.25%.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now directly owns 13,301 shares of the company's stock, valued at $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 over the last ninety days. Insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRI. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 target price 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. Keefe, Bruyette & Woods cut their target price on shares of Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com lowered shares of Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.