Geode Capital Management LLC Has $211.69 Million Holdings in Primerica, Inc. (NYSE:PRI)

Geode Capital Management LLC increased its position in shares of Primerica, Inc. (NYSE:PRI) by 11.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 779,760 shares of the financial services provider’s stock after purchasing an additional 82,921 shares during the period. Geode Capital Management LLC’s holdings in Primerica were worth $211,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Primerica during the 4th quarter worth about $33,000. EverSource Wealth Advisors LLC increased its position in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock worth $34,000 after buying an additional 71 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Primerica by 116.2% in the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after buying an additional 115 shares during the period. UMB Bank n.a. lifted its position in shares of Primerica by 65.5% in the fourth quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after buying an additional 95 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Primerica by 27.3% during the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 71 shares during the period. 90.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Morgan Stanley decreased their price target on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods boosted their price objective on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets initiated coverage on Primerica in a research note on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Primerica has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Down 9.9 %

NYSE PRI opened at $248.16 on Monday. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 18.05 and a beta of 1.12. The company has a 50 day moving average of $284.91 and a 200-day moving average of $282.75. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.68%. This is an increase from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Insiders Place Their Bets

In other Primerica news, insider Nicholas Adam Jendusa sold 234 shares of the company’s stock in a transaction 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 directly owns 200 shares in the company, valued at $56,030. This represents a 53.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. 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. Corporate insiders own 0.61% of the company’s stock.

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.