Principal Financial Group Inc. Sells 4,488 Shares of Primerica, Inc. (NYSE:PRI)

Principal Financial Group Inc. lowered its position in Primerica, Inc. (NYSE:PRI - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,970 shares of the financial services provider's stock after selling 4,488 shares during the period. Principal Financial Group Inc. owned 0.59% of Primerica worth $42,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Commonwealth Equity Services LLC increased its position in Primerica by 3.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,367 shares of the financial services provider's stock valued at $459,000 after acquiring an additional 75 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Primerica by 6.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 2,271 shares of the financial services provider's stock valued at $441,000 after buying an additional 143 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Primerica by 1.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,744 shares of the financial services provider's stock valued at $726,000 after buying an additional 59 shares during the period. Assetmark Inc. raised its position in shares of Primerica by 14.2% during the third quarter. Assetmark Inc. now owns 674 shares of the financial services provider's stock worth $131,000 after acquiring an additional 84 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Primerica during the third quarter valued at $1,336,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now owns 13,259 shares of the company's stock, valued at approximately $3,227,373.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the transaction, the insider now owns 100 shares of the company's stock, valued at $24,981. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at $3,227,373.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,708 shares of company stock valued at $1,648,677. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Primerica from $255.00 to $260.00 and gave the company a "market perform" rating in a research report on Wednesday, April 10th. Morgan Stanley raised their price objective on shares of Primerica from $245.00 to $250.00 and gave the company an "equal weight" rating in a research note on Monday, April 15th. StockNews.com cut shares of Primerica from a "buy" rating to a "hold" rating in a research report on Tuesday, May 7th. Raymond James downgraded Primerica from a "strong-buy" rating to a "market perform" rating in a research note on Monday, February 12th. Finally, Truist Financial lifted their price objective on Primerica from $260.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $245.50.

Primerica Price Performance

Shares of NYSE PRI traded up $3.83 during midday trading on Friday, reaching $228.16. 198,575 shares of the stock were exchanged, compared to its average volume of 163,657. Primerica, Inc. has a 12 month low of $179.15 and a 12 month high of $256.56. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 13.92 and a beta of 1.10. The business has a 50-day simple moving average of $233.07 and a two-hundred day simple moving average of $224.40.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.12 by ($0.21). The business had revenue of $742.83 million for the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. Primerica's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 earnings per share. Equities research analysts expect that Primerica, Inc. will post 17.57 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 21st will be given a $0.75 dividend. The ex-dividend date is Monday, May 20th. This represents a $3.00 annualized dividend and a yield of 1.31%. Primerica's dividend payout ratio is currently 18.26%.

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.