Zurcher Kantonalbank Zurich Cantonalbank Buys 945 Shares of Primerica, Inc. (NYSE:PRI)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Primerica, Inc. (NYSE:PRI) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,063 shares of the financial services provider’s stock after purchasing an additional 945 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Primerica were worth $2,460,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Primerica by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock valued at $184,807,000 after acquiring an additional 25,951 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Primerica during the 4th quarter valued at $34,191,000. Los Angeles Capital Management LLC raised its position in shares of Primerica by 10.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 120,011 shares of the financial services provider’s stock valued at $32,573,000 after acquiring an additional 11,612 shares during the last quarter. Prospector Partners LLC raised its position in shares of Primerica by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 77,055 shares of the financial services provider’s stock valued at $20,431,000 after acquiring an additional 210 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Primerica by 0.5% during the 3rd quarter. Stifel Financial Corp now owns 63,984 shares of the financial services provider’s stock valued at $16,965,000 after acquiring an additional 333 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Trading Up 3.3 %

Shares of NYSE PRI opened at $285.76 on Monday. The firm has a market cap of $9.50 billion, a PE ratio of 20.78 and a beta of 1.12. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The company has a fifty day moving average price of $284.60 and a 200 day moving average price of $279.81.

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

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 1.46%. Primerica’s dividend payout ratio is presently 30.25%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. Keefe, Bruyette & Woods boosted their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Piper Sandler decreased their price target 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. TD Cowen boosted their price target on shares of Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley decreased their price target 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. Six research 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, Primerica presently has a consensus rating of “Hold” and an average target price of $309.86.

Insider Buying and Selling

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total transaction of $65,555.10. Following the transaction, the insider now 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. In the last ninety days, insiders sold 5,234 shares of company stock valued at $1,476,575. Company insiders own 0.85% of the company’s stock.

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.