Primerica, Inc. (NYSE:PRI) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in shares of Primerica, Inc. (NYSE:PRIFree Report) by 0.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 79,700 shares of the financial services provider’s stock after buying an additional 200 shares during the period. Swiss National Bank’s holdings in Primerica were worth $15,463,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PRI. Amalgamated Bank grew its position in shares of Primerica by 12.2% in the third quarter. Amalgamated Bank now owns 28,302 shares of the financial services provider’s stock valued at $5,491,000 after purchasing an additional 3,067 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Primerica by 110.2% in the 3rd quarter. New York Life Investment Management LLC now owns 3,844 shares of the financial services provider’s stock valued at $746,000 after buying an additional 2,015 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Primerica by 0.6% in the 3rd quarter. Arizona State Retirement System now owns 10,314 shares of the financial services provider’s stock worth $2,001,000 after acquiring an additional 60 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Primerica by 144.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 803 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 474 shares during the period. Finally, AdvisorShares Investments LLC acquired a new position in shares of Primerica during the 3rd quarter valued at about $393,000. Hedge funds and other institutional investors own 90.56% of the company’s stock.

Primerica Price Performance

Shares of PRI opened at $242.46 on Monday. The firm has a 50-day simple moving average of $217.01 and a two-hundred day simple moving average of $208.42. The stock has a market cap of $8.49 billion, a PE ratio of 16.04 and a beta of 1.07. Primerica, Inc. has a 1-year low of $155.68 and a 1-year high of $242.52.

Primerica announced that its Board of Directors has initiated a stock buyback program on Thursday, November 16th that allows the company to buyback $425.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Wednesday, February 21st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, February 20th. This is an increase from Primerica’s previous quarterly dividend of $0.65. Primerica’s dividend payout ratio (DPR) is 17.20%.

Insider Buying and Selling at Primerica

In other news, CFO Alison S. Rand sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $210.07, for a total transaction of $630,210.00. Following the completion of the transaction, the chief financial officer now directly owns 6,444 shares in the company, valued at $1,353,691.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Primerica from $190.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. StockNews.com raised shares of Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $219.20.

View Our Latest Stock Report on PRI

Primerica Company Profile

(Free Report)

Primerica, Inc, together with its subsidiaries, provides financial products 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. The Term Life Insurance segment underwrites individual term life insurance products.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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