DekaBank Deutsche Girozentrale Trims Stock Position in Primerica, Inc. (NYSE:PRI)

DekaBank Deutsche Girozentrale decreased its stake in Primerica, Inc. (NYSE:PRI) by 44.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,098 shares of the financial services provider’s stock after selling 862 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Primerica were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRI. Intech Investment Management LLC boosted its position in Primerica by 1.4% in the 4th quarter. Intech Investment Management LLC now owns 3,924 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 55 shares in the last quarter. Blue Trust Inc. boosted its holdings in Primerica by 45.5% during the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after buying an additional 60 shares in the last quarter. GPS Wealth Strategies Group LLC grew its position in Primerica by 2.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $625,000 after buying an additional 62 shares during the period. Retirement Systems of Alabama increased its holdings in Primerica by 0.3% in the first quarter. Retirement Systems of Alabama now owns 43,994 shares of the financial services provider’s stock valued at $11,129,000 after buying an additional 116 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Primerica in the second quarter worth about $30,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $261.11, for a total transaction of $391,665.00. Following the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated 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 directly owns 10,259 shares in the company, valued at $2,678,727.49. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares in the company, valued at $3,846,081.35. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $1,657,015 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PRI. Truist Financial raised their target price on Primerica from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Piper Sandler started coverage on Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price objective on the stock. StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Jefferies Financial Group lifted their price target on shares of Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley upped their price objective on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $275.20.

Primerica Stock Performance

Shares of PRI opened at $258.49 on Friday. The stock has a 50 day moving average price of $254.26 and a 200 day moving average price of $240.06. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 15.73 and a beta of 1.09. Primerica, Inc. has a one year low of $184.76 and a one year high of $265.27.

Primerica (NYSE:PRI) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.24. The business had revenue of $803.38 million during the quarter, compared to analysts’ expectations of $748.88 million. Primerica had a net margin of 14.85% and a return on equity of 27.81%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.99 earnings per share. On average, analysts predict that Primerica, Inc. will post 17.94 earnings per share for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.90 per share. This is a boost from Primerica’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 21st. Primerica’s payout ratio is currently 21.91%.

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.