Teacher Retirement System of Texas Increases Stock Holdings in Primerica, Inc. (NYSE:PRI)

Teacher Retirement System of Texas increased its holdings in Primerica, Inc. (NYSE:PRI) by 17.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 32,770 shares of the financial services provider’s stock after purchasing an additional 4,863 shares during the period. Teacher Retirement System of Texas’ holdings in Primerica were worth $8,894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Prospera Private Wealth LLC purchased a new stake in Primerica during the third quarter valued at about $31,000. Golden State Wealth Management LLC purchased a new stake in Primerica during the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC grew 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 valued at $34,000 after acquiring an additional 71 shares during the period. Larson Financial Group LLC grew its position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 54 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 115 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Price Performance

Shares of PRI opened at $284.99 on Friday. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock’s 50-day moving average is $285.85 and its two-hundred day moving average is $280.60. The stock has a market cap of $9.48 billion, a PE ratio of 20.73 and a beta of 1.12.

Primerica (NYSE:PRI) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS 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%. On average, research analysts anticipate 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. Investors of record on Friday, February 21st were paid a $1.04 dividend. This is a boost from Primerica’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, February 21st. This represents a $4.16 annualized dividend and a dividend yield of 1.46%. Primerica’s payout ratio is 30.25%.

Wall Street Analyst Weigh In

PRI has been the subject of a number of research reports. TD Cowen boosted their price target on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target for the company. Morgan Stanley lowered their price target on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Finally, Piper Sandler reduced their price objective on Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Primerica currently has a consensus rating of “Hold” and a consensus target price of $309.86.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total value of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $56,030. This represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is currently owned by corporate insiders.

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.