New York State Teachers Retirement System Sells 100 Shares of Primerica, Inc. (NYSE:PRI)

New York State Teachers Retirement System reduced its position in Primerica, Inc. (NYSE:PRI) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,430 shares of the financial services provider’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Primerica were worth $3,374,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PRI. Strategic Financial Concepts LLC bought a new stake in shares of Primerica in the 4th quarter valued at $8,767,000. Geode Capital Management LLC lifted 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 period. International Assets Investment Management LLC lifted its position in shares of Primerica by 359,742.9% during the 3rd quarter. International Assets Investment Management LLC now owns 25,189 shares of the financial services provider’s stock valued at $6,679,000 after acquiring an additional 25,182 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Primerica during the 4th quarter valued at $5,236,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Primerica during the 3rd quarter valued at $5,073,000. 90.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PRI shares. TD Cowen upped their price objective on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Morgan Stanley increased their price target on shares of Primerica from $308.00 to $313.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods increased their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Piper Sandler cut their target price 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. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Primerica currently has a consensus rating of “Hold” and an average target price of $311.14.

Primerica Stock Down 2.3 %

Shares of NYSE:PRI opened at $273.38 on Friday. The company has a 50-day moving average price of $281.95 and a two-hundred day moving average price of $276.58. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $307.91. The firm has a market capitalization of $9.12 billion, a PE ratio of 19.88 and a beta of 1.11.

Primerica (NYSE:PRI) last released 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%. Analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 21st will be given a $1.04 dividend. 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 dividend yield of 1.52%. The ex-dividend date is Friday, February 21st. Primerica’s dividend payout ratio (DPR) is 26.18%.

Primerica announced that its Board of Directors has authorized a share buyback program on Thursday, November 14th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other 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 completion of the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at approximately $9,388,140.28. This trade represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is owned by company 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.