Primerica, Inc. $PRI Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,241 shares of the financial services provider’s stock after purchasing an additional 2,553 shares during the period. Principal Financial Group Inc.’s holdings in Primerica were worth $17,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PRI. V Square Quantitative Management LLC purchased a new position in Primerica in the fourth quarter valued at about $30,000. SJS Investment Consulting Inc. grew its stake in shares of Primerica by 176.2% in the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider’s stock valued at $29,000 after buying an additional 74 shares in the last quarter. Root Financial Partners LLC grew its stake in shares of Primerica by 52.6% in the first quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider’s stock valued at $44,000 after buying an additional 61 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Primerica by 68.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 179 shares of the financial services provider’s stock valued at $47,000 after buying an additional 73 shares during the period. Finally, Torren Management LLC purchased a new stake in shares of Primerica during the 4th quarter valued at about $50,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the completion of the transaction, the president directly owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $280.49, for a total transaction of $420,735.00. Following the completion of the sale, the chief executive officer directly owned 33,696 shares of the company’s stock, valued at $9,451,391.04. The trade was a 4.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.63% of the company’s stock.

Primerica Stock Up 1.2%

Shares of NYSE PRI opened at $313.15 on Thursday. Primerica, Inc. has a fifty-two week low of $230.09 and a fifty-two week high of $317.69. The business has a 50 day moving average price of $285.13 and a two-hundred day moving average price of $270.09. The firm has a market cap of $9.76 billion, a PE ratio of 13.13 and a beta of 0.88.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 EPS for the quarter, beating the consensus estimate of $5.45 by $0.51. Primerica had a return on equity of 32.32% and a net margin of 22.99%.The company had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $855.36 million. During the same period in the prior year, the business posted $5.02 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts anticipate that Primerica, Inc. will post 24.54 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 21st were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, May 21st. Primerica’s dividend payout ratio is 20.13%.

Wall Street Analyst Weigh In

Several research firms recently commented on PRI. Morgan Stanley boosted their price target on Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $305.00 to $323.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Jefferies Financial Group boosted their target price on shares of Primerica from $266.00 to $268.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. TD Cowen upped their target price on shares of Primerica from $322.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings raised shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $308.67.

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.