Nordea Investment Management AB Invests $51 Million in Primerica, Inc. $PRI

Nordea Investment Management AB bought a new position in shares of Primerica, Inc. (NYSE:PRI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 184,436 shares of the financial services provider’s stock, valued at approximately $51,004,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRI. Integrated Wealth Concepts LLC increased its holdings in shares of Primerica by 20.6% during the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 366 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Primerica by 27.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after purchasing an additional 28,129 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Primerica in the first quarter worth $1,763,000. Focus Partners Wealth lifted its stake in shares of Primerica by 17.5% during the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock worth $398,000 after buying an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Primerica by 205.8% during the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after buying an additional 177 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRI. Zacks Research lowered Primerica from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Keefe, Bruyette & Woods decreased their target price on Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a report on Tuesday, November 11th. Morgan Stanley set a $292.00 price target on shares of Primerica in a report on Monday, December 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Primerica in a research note on Monday, December 29th. Finally, Piper Sandler set a $292.00 price objective on shares of Primerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $300.00.

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the transaction, the president owned 7,301 shares in the company, valued at $1,863,945.30. This trade represents a 21.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joel M. Babbit sold 700 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the sale, the director directly owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. The trade was a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,200 shares of company stock valued at $1,338,225 in the last three months. 0.61% of the stock is currently owned by company insiders.

Primerica Stock Performance

Shares of NYSE PRI opened at $267.17 on Thursday. The company has a market capitalization of $8.53 billion, a PE ratio of 12.28 and a beta of 0.90. The company’s fifty day moving average price is $258.25 and its 200 day moving average price is $264.61. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $298.75.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $6.33 earnings per share for the quarter, topping analysts’ consensus estimates of $5.52 by $0.81. Primerica had a net margin of 22.36% and a return on equity of 31.75%. The business had revenue of $838.88 million during the quarter, compared to the consensus estimate of $817.81 million. During the same quarter in the prior year, the firm posted $4.83 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 21st were given a $1.04 dividend. The ex-dividend date was Friday, November 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.6%. Primerica’s payout ratio is 19.12%.

Primerica declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 19th that permits the company to buyback $475.00 million in shares. This buyback authorization permits the financial services provider to buy up to 5.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Primerica Company Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.