Primerica, Inc. (NYSE:PRI) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in Primerica, Inc. (NYSE:PRI) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,863 shares of the financial services provider’s stock after acquiring an additional 312 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Primerica were worth $1,320,000 at the end of the most recent reporting period.

A number of other 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 stake in shares of 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 period. Venturi Wealth Management LLC grew its holdings in shares of Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock worth $58,000 after buying an additional 115 shares during the last quarter. UMB Bank n.a. increased its position in Primerica by 65.5% in the 4th quarter. UMB Bank n.a. now owns 240 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 95 shares during the period. Finally, Allworth Financial LP raised its stake in Primerica by 27.3% during the 4th quarter. Allworth Financial LP now owns 331 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 71 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRI. BMO Capital Markets initiated coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 target price on the stock. Piper Sandler cut their price objective on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Morgan Stanley lowered their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods increased their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Finally, StockNews.com lowered Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. 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, the stock currently has an average rating of “Hold” and a consensus price target of $309.86.

Primerica Trading Down 9.9 %

Shares of Primerica stock opened at $248.16 on Friday. The stock has a market cap of $8.25 billion, a PE ratio of 18.05 and a beta of 1.12. The company has a 50-day moving average of $284.91 and a two-hundred day moving average of $282.56. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. On average, sell-side analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

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

Insider Transactions at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica 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 owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated 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 owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.