Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Primerica, Inc. (NYSE:PRI)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Primerica, Inc. (NYSE:PRI) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,166 shares of the financial services provider’s stock after purchasing an additional 764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Primerica were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its stake in shares of Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock worth $87,200,000 after purchasing an additional 236,051 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Primerica by 86.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock valued at $23,010,000 after purchasing an additional 55,076 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Primerica by 378.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 50,445 shares of the financial services provider’s stock valued at $9,787,000 after purchasing an additional 39,905 shares during the last quarter. Alps Advisors Inc. acquired a new stake in Primerica during the third quarter worth approximately $6,098,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of Primerica by 44.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock worth $16,479,000 after buying an additional 25,981 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Truist Financial boosted their target price on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 15th. StockNews.com upgraded Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Raymond James lowered Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Finally, Morgan Stanley raised their target price 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $245.50.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now owns 13,259 shares in the company, valued at approximately $3,227,373.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Primerica news, Director John A. Jr. Addison sold 1,215 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $249.00, for a total value of $302,535.00. Following the completion of the sale, the director now owns 16,467 shares of the company’s stock, valued at $4,100,283. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the transaction, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The disclosure for this sale can be found here. Insiders sold 6,708 shares of company stock valued at $1,648,677 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Primerica Stock Up 1.6 %

PRI opened at $221.92 on Thursday. The business has a 50 day moving average price of $242.03 and a two-hundred day moving average price of $222.57. Primerica, Inc. has a 52 week low of $173.00 and a 52 week high of $256.56. The company has a market cap of $7.70 billion, a PE ratio of 13.97 and a beta of 1.06.

Primerica (NYSE:PRI) last issued its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). The company had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. Primerica’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 earnings per share. As a group, sell-side analysts expect that Primerica, Inc. will post 17.78 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Primerica’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, February 20th. Primerica’s payout ratio is 18.89%.

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.