Thrivent Financial for Lutherans Cuts Stock Position in Primerica, Inc. (NYSE:PRI)

Thrivent Financial for Lutherans cut its stake in shares of Primerica, Inc. (NYSE:PRI) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,852 shares of the financial services provider’s stock after selling 95 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Primerica were worth $2,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dana Investment Advisors Inc. lifted its stake in shares of Primerica by 1.2% in the 4th quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after acquiring an additional 45 shares during the period. Larson Financial Group LLC raised its holdings in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 54 shares in the last quarter. CIBC Asset Management Inc lifted its position in Primerica by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 1,108 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 54 shares during the period. Assetmark Inc. lifted its position in Primerica by 3.9% in the fourth quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 57 shares during the period. Finally, Everhart Financial Group Inc. boosted its holdings in Primerica by 2.5% in the 4th quarter. Everhart Financial Group Inc. now owns 2,676 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 65 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Morgan Stanley cut their price objective on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a report on Friday, February 7th. 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 research note on Wednesday, December 18th. Finally, BMO Capital Markets initiated coverage on shares of Primerica in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Primerica currently has a consensus rating of “Hold” and an average target price of $309.86.

Primerica Trading Down 2.3 %

Shares of NYSE PRI opened at $283.34 on Friday. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 20.61 and a beta of 1.12. The company’s 50-day moving average price is $286.37 and its 200 day moving average price is $281.55. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, topping 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%. As a group, research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a dividend of $1.04 per share. This is an increase 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 yield of 1.47%. Primerica’s dividend payout ratio (DPR) is presently 30.25%.

Insider Transactions at Primerica

In other news, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total transaction of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at $56,030. The trade was a 53.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company’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 transaction of $845,220.00. Following the transaction, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock valued at $1,476,575 over the last three months. 0.85% of the stock is currently owned by insiders.

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.