Royal London Asset Management Ltd. Reduces Position in Primerica, Inc. (NYSE:PRI)

Royal London Asset Management Ltd. reduced its holdings in Primerica, Inc. (NYSE:PRI) by 0.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,639 shares of the financial services provider’s stock after selling 65 shares during the period. Royal London Asset Management Ltd.’s holdings in Primerica were worth $43,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Primerica by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,054 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 36 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Primerica by 0.7% in the third quarter. Kingsview Wealth Management LLC now owns 5,840 shares of the financial services provider’s stock valued at $1,549,000 after purchasing an additional 43 shares during the last quarter. Dana Investment Advisors Inc. lifted its position in Primerica by 1.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,729 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 45 shares in the last quarter. Larson Financial Group LLC boosted its stake in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock worth $39,000 after buying an additional 54 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Primerica by 3.9% in the 4th quarter. Assetmark Inc. now owns 1,518 shares of the financial services provider’s stock valued at $412,000 after buying an additional 57 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now directly owns 33,322 shares of the company’s stock, valued at $9,388,140.28. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at $56,030. This represents a 53.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,234 shares of company stock valued at $1,476,575 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen lifted their price target on Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley decreased their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods raised their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Finally, StockNews.com cut Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $309.86.

Primerica Stock Down 0.3 %

NYSE:PRI opened at $288.65 on Friday. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91. The stock’s fifty day moving average is $285.57 and its two-hundred day moving average is $280.31. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 20.99 and a beta of 1.12.

Primerica (NYSE:PRI) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 21st were issued a $1.04 dividend. The ex-dividend date was Friday, February 21st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is 30.25%.

About Primerica

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.