Principal Financial Group Inc. Decreases Stock Position in Primerica, Inc. (NYSE:PRI)

Principal Financial Group Inc. trimmed its position in Primerica, Inc. (NYSE:PRI) by 31.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,415 shares of the financial services provider’s stock after selling 36,189 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Primerica worth $20,792,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Primerica by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,646 shares of the financial services provider’s stock worth $5,998,000 after acquiring an additional 6,185 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Primerica by 8.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,966 shares of the financial services provider’s stock worth $2,642,000 after purchasing an additional 817 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Primerica by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 10,243 shares of the financial services provider’s stock valued at $2,716,000 after purchasing an additional 292 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Primerica during the 3rd quarter valued at $208,000. Finally, State of Alaska Department of Revenue boosted its stake in Primerica by 0.5% during the third quarter. State of Alaska Department of Revenue now owns 31,613 shares of the financial services provider’s stock worth $8,381,000 after buying an additional 145 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $301.27, for a total transaction of $903,810.00. Following the sale, the chief executive officer now owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total transaction of $903,810.00. Following the completion of the sale, the chief executive officer now directly owns 36,322 shares of the company’s stock, valued at approximately $10,942,728.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 10,259 shares in the company, valued at $2,678,727.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock valued at $1,803,175 over the last ninety days. 0.85% of the stock is owned by company insiders.

Primerica Stock Down 0.8 %

Shares of NYSE PRI opened at $300.18 on Thursday. Primerica, Inc. has a twelve month low of $184.76 and a twelve month high of $304.84. The firm has a market cap of $10.02 billion, a PE ratio of 22.99 and a beta of 1.08. The business has a fifty day simple moving average of $271.23 and a two-hundred day simple moving average of $249.88.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.81 by $0.87. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.28 earnings per share. On average, research analysts expect that Primerica, Inc. will post 19.12 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.20%. Primerica’s dividend payout ratio is presently 27.50%.

Analyst Ratings Changes

Several brokerages recently commented on PRI. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler initiated coverage on Primerica in a research note on Friday, August 30th. They set a “neutral” rating and a $283.00 target price on the stock. Truist Financial raised their price target on Primerica from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, StockNews.com downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $288.33.

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.