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

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Primerica, Inc. (NYSE:PRI) by 11.6% during the fourth quarter, Holdings Channel reports. The firm owned 9,063 shares of the financial services provider’s stock after buying an additional 945 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Primerica were worth $2,460,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Primerica by 3.9% in 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 purchasing an additional 25,951 shares during the period. Barclays PLC raised its holdings in Primerica by 108.1% in the 3rd quarter. Barclays PLC now owns 20,471 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 10,635 shares during the period. Sylvest Advisors LLC bought a new position in Primerica in the 4th quarter valued at about $543,000. Oak Thistle LLC raised its holdings in Primerica by 64.9% in the 4th quarter. Oak Thistle LLC now owns 4,936 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 1,943 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in Primerica by 10.7% in 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 period. 90.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total value of $845,220.00. Following the sale, the chief executive officer now owns 33,322 shares in the company, valued at $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Peter W. Schneider sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the president now owns 13,301 shares in the company, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,234 shares of company stock worth $1,476,575. Corporate insiders own 0.85% of the company’s stock.

Primerica Trading Up 3.3 %

NYSE PRI opened at $285.76 on Monday. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 20.78 and a beta of 1.12. The firm’s 50 day simple moving average is $284.60 and its 200 day simple moving average is $279.81. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. 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 declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were given a dividend of $1.04 per share. This is a positive change 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 dividend payout ratio (DPR) is currently 30.25%.

Analyst Ratings Changes

Several research analysts have weighed in on PRI shares. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price target on the stock. TD Cowen increased 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. Keefe, Bruyette & Woods increased 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 lowered their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $309.86.

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.