Principal Financial Group Inc. Sells 103,720 Shares of Primerica, Inc. (NYSE:PRI)

Principal Financial Group Inc. reduced its holdings in shares of Primerica, Inc. (NYSE:PRI) by 47.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,604 shares of the financial services provider’s stock after selling 103,720 shares during the period. Principal Financial Group Inc.’s holdings in Primerica were worth $27,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ORG Partners LLC purchased a new stake in shares of Primerica in the 2nd quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. raised its stake in Primerica by 493.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the financial services provider’s stock valued at $45,000 after buying an additional 148 shares during the last quarter. Blue Trust Inc. boosted its holdings in Primerica by 45.5% in the second quarter. Blue Trust Inc. now owns 192 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 60 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Primerica in the first quarter worth $163,000. Finally, O Dell Group LLC bought a new position in shares of Primerica during the fourth quarter valued at $153,000. Institutional investors own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Primerica from $239.00 to $249.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley upped their target price on shares of Primerica from $257.00 to $269.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Piper Sandler assumed coverage on Primerica in a report on Friday. They issued a “neutral” rating and a $283.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of Primerica from $255.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Finally, StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a report on Saturday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $275.20.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at approximately $11,446,071.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $261.11, for a total transaction of $391,665.00. Following the sale, the president now directly owns 10,259 shares in the company, valued at approximately $2,678,727.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $252.55, for a total transaction of $757,650.00. Following the sale, the chief executive officer now owns 45,322 shares in the company, valued at $11,446,071.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock worth $1,817,595. 0.85% of the stock is owned by company insiders.

Primerica Stock Performance

Shares of NYSE:PRI opened at $263.23 on Monday. Primerica, Inc. has a 52-week low of $184.76 and a 52-week high of $265.27. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 16.02 and a beta of 1.09. The stock’s 50-day simple moving average is $248.10 and its two-hundred day simple moving average is $238.95.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.71 EPS for the quarter, topping the consensus estimate of $4.47 by $0.24. The firm had revenue of $803.38 million during the quarter, compared to analyst estimates of $748.88 million. Primerica had a return on equity of 27.81% and a net margin of 14.85%. Primerica’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.99 EPS. As a group, equities analysts forecast that Primerica, Inc. will post 17.92 earnings per share for the current fiscal year.

Primerica Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Wednesday, August 21st will be paid a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.60 annualized dividend and a dividend yield of 1.37%. This is an increase from Primerica’s previous quarterly dividend of $0.75. Primerica’s dividend payout ratio (DPR) is 21.91%.

Primerica Company 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.