Primerica, Inc. (NYSE:PRI) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Primerica, Inc. (NYSE:PRI) by 31.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 78,415 shares of the financial services provider’s stock after selling 36,189 shares during the period. Principal Financial Group Inc.’s holdings in Primerica were worth $20,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PRI. ORG Partners LLC acquired a new position in Primerica in the 2nd quarter valued at approximately $30,000. V Square Quantitative Management LLC bought a new stake in shares of Primerica during the 3rd quarter worth about $31,000. UMB Bank n.a. boosted its position in Primerica by 85.9% during the third quarter. UMB Bank n.a. now owns 145 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the period. Blue Trust Inc. boosted its holdings in shares of Primerica by 45.5% during the 2nd quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in Primerica in the 2nd quarter valued at $71,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insiders Place Their Bets

In other news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the completion of the sale, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the transaction, the chief executive officer now owns 36,322 shares in the company, valued at approximately $10,942,728.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the sale, the president now directly owns 10,259 shares of the company’s stock, valued at approximately $2,678,727.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,500 shares of company stock valued at $1,803,175. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PRI shares. TD Cowen initiated coverage on shares of Primerica in a research report on Wednesday, October 9th. They set a “buy” rating and a $314.00 target price for the company. Truist Financial increased their target price on Primerica from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price target on Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler assumed coverage on Primerica in a research report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective for the company. Finally, StockNews.com downgraded shares of Primerica from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Six 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 presently has an average rating of “Hold” and an average price target of $288.33.

Primerica Trading Down 0.8 %

PRI opened at $300.18 on Thursday. The stock’s 50 day simple moving average is $271.23 and its 200-day simple moving average is $249.88. Primerica, Inc. has a 1 year low of $184.76 and a 1 year high of $304.84. The stock has a market cap of $10.02 billion, a PE ratio of 22.99 and a beta of 1.08.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.87. The firm had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a return on equity of 30.93% and a net margin of 14.95%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.28 earnings per share. Equities analysts forecast that Primerica, Inc. will post 19.12 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.90 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a yield of 1.20%. Primerica’s payout ratio is 27.50%.

About Primerica

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.