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

Principal Financial Group Inc. boosted its position in Primerica, Inc. (NYSE:PRI) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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. owned about 0.23% of Primerica worth $17,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in Primerica by 5,277.5% in the fourth quarter. Bank of Montreal Can now owns 1,311,634 shares of the financial services provider’s stock valued at $338,874,000 after purchasing an additional 1,287,243 shares during the last quarter. Invesco Ltd. raised its stake in shares of Primerica by 200.3% during the 4th quarter. Invesco Ltd. now owns 357,696 shares of the financial services provider’s stock worth $92,414,000 after buying an additional 238,571 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Primerica during the 4th quarter worth $40,714,000. Millennium Management LLC boosted its position in shares of Primerica by 183.3% in the 4th quarter. Millennium Management LLC now owns 212,196 shares of the financial services provider’s stock worth $54,823,000 after buying an additional 137,297 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Primerica in the 3rd quarter valued at about $30,396,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction dated 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 owned 9,811 shares of the company’s stock, valued at $2,743,548.04. This represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the 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 transaction, the chief executive officer owned 33,696 shares in the company, valued at approximately $9,451,391.04. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 Primerica stock 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 firm has a market cap of $9.76 billion, a PE ratio of 13.13 and a beta of 0.88. The business’s fifty day moving average is $285.13 and its two-hundred day moving average is $270.09.

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

Primerica Announces Dividend

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

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.