California State Teachers Retirement System Lowers Stake in Primerica, Inc. $PRI

California State Teachers Retirement System lowered its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,388 shares of the financial services provider's stock after selling 871 shares during the period. California State Teachers Retirement System owned about 0.12% of Primerica worth $10,341,470 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PRI. Ameritas Advisory Services LLC acquired a new stake in shares of Primerica during the second quarter worth about $26,000. SJS Investment Consulting Inc. boosted its holdings in Primerica by 176.2% during the first quarter. SJS Investment Consulting Inc. now owns 116 shares of the financial services provider's stock worth $29,000 after buying an additional 74 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Primerica during the 2nd quarter valued at about $29,000. Root Financial Partners LLC boosted its holdings in Primerica by 52.6% in the 1st quarter. Root Financial Partners LLC now owns 177 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 61 shares during the period. Finally, Steph & Co. raised its position in Primerica by 38.0% in the 1st quarter. Steph & Co. now owns 196 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Trading Down 0.3%

PRI traded down $0.79 on Tuesday, hitting $294.62. 56,897 shares of the stock traded hands, compared to its average volume of 200,202. Primerica, Inc. has a 52 week low of $230.09 and a 52 week high of $327.28. The firm has a market capitalization of $9.07 billion, a PE ratio of 11.83 and a beta of 0.86. The business has a fifty day moving average price of $305.78 and a two-hundred day moving average price of $281.87.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $6.03 by $0.38. The firm had revenue of $865.07 million for the quarter, compared to analysts' expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.46 EPS. On average, equities research analysts forecast that Primerica, Inc. will post 25.2 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, August 21st were issued a dividend of $1.20 per share. The ex-dividend date was Friday, August 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. Primerica's dividend payout ratio is presently 19.28%.

Insider Buying and Selling at Primerica

In other news, President Peter W. Schneider sold 1,800 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the sale, the president directly owned 8,011 shares of the company's stock, valued at approximately $2,504,639.15. The trade was a 18.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer owned 32,196 shares of the company's stock, valued at approximately $10,309,159.20. The trade was a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,579 shares of company stock valued at $1,130,573. Company insiders own 0.63% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PRI. Weiss Ratings cut shares of Primerica from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods upped their price target on Primerica from $323.00 to $335.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. Morgan Stanley boosted their price objective on Primerica from $291.00 to $316.00 and gave the company an "equal weight" rating in a research report on Monday, August 24th. Truist Financial reaffirmed a "hold" rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a research report on Thursday, August 27th. Finally, TD Cowen upped their price target on Primerica from $322.00 to $360.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Primerica has an average rating of "Hold" and an average price target of $315.57.

Primerica Profile

Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.

Primerica's principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.

The company was founded in 1977 as A.L.

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