Primerica, Inc. $PRI Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in Primerica, Inc. (NYSE:PRI) by 17.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,312 shares of the financial services provider’s stock after buying an additional 31,876 shares during the period. Nordea Investment Management AB owned 0.68% of Primerica worth $56,150,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC increased its position 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 worth $609,000 after purchasing an additional 366 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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 buying an additional 28,129 shares during the last quarter. Empowered Funds LLC acquired a new position in Primerica during the first quarter worth approximately $1,763,000. Focus Partners Wealth lifted its stake in Primerica by 17.5% in the first quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after buying an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Primerica by 205.8% in the first quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 177 shares during the period. 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 1,800 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $252.38, for a total value of $454,284.00. Following the completion of the transaction, the president owned 11,611 shares in the company, valued at $2,930,384.18. This trade represents a 13.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Glenn J. Williams sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the completion of the sale, the chief executive officer owned 27,392 shares of the company’s stock, valued at $7,023,582.72. This trade represents a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Morgan Stanley dropped their price target on Primerica from $292.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Finally, Zacks Research cut Primerica from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $298.60.

Primerica Stock Up 1.8%

NYSE PRI opened at $249.97 on Tuesday. The stock has a market capitalization of $7.91 billion, a P/E ratio of 10.90 and a beta of 0.92. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $296.00. The firm has a 50-day moving average price of $258.21 and a 200 day moving average price of $261.64.

Primerica (NYSE:PRI) last released its earnings results on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.69 by $0.44. The company had revenue of $853.51 million for the quarter, compared to analysts’ expectations of $839.65 million. Primerica had a return on equity of 32.30% and a net margin of 22.82%.The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.03 EPS. On average, equities research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. This is an increase from Primerica’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Monday, February 23rd. Primerica’s dividend payout ratio is 20.93%.

About Primerica

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.