Wells Fargo & Company MN Has $94.92 Million Stock Holdings in Primerica, Inc. (NYSE:PRI)

Wells Fargo & Company MN reduced its position in shares of Primerica, Inc. (NYSE:PRI) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 349,714 shares of the financial services provider’s stock after selling 26,454 shares during the quarter. Wells Fargo & Company MN’s holdings in Primerica were worth $94,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Primerica during the fourth quarter valued at about $34,191,000. Geode Capital Management LLC boosted its stake in Primerica by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider’s stock valued at $211,691,000 after purchasing an additional 82,921 shares during the last quarter. California Public Employees Retirement System increased its holdings in Primerica by 59.4% during the 4th quarter. California Public Employees Retirement System now owns 111,720 shares of the financial services provider’s stock worth $30,323,000 after purchasing an additional 41,612 shares in the last quarter. SVB Wealth LLC bought a new stake in Primerica during the 4th quarter worth approximately $10,703,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Primerica in the fourth quarter worth approximately $8,767,000. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of PRI stock opened at $245.35 on Tuesday. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 17.84 and a beta of 1.03. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The firm’s 50-day simple moving average is $284.02 and its two-hundred day simple moving average is $282.65.

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

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 annualized dividend and a dividend yield of 1.70%. Primerica’s payout ratio is presently 30.25%.

Insider Activity

In related news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now directly owns 13,301 shares in the company, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 approximately $9,388,140.28. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,234 shares of company stock valued at $1,476,575 in the last 90 days. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on PRI shares. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Piper Sandler reduced their target price on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research note 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 for the company in a report on Friday, February 28th. BMO Capital Markets started coverage on shares of Primerica in a report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 price target on the stock. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, 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.