Primerica, Inc. (NYSE:PRI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Primerica, Inc. (NYSE:PRI) by 66.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 537 shares of the financial services provider’s stock after selling 1,073 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Primerica were worth $110,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of Primerica by 110.6% during the third quarter. Invesco Ltd. now owns 449,459 shares of the financial services provider’s stock valued at $87,200,000 after acquiring an additional 236,051 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Primerica by 86.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 118,603 shares of the financial services provider’s stock worth $23,010,000 after acquiring an additional 55,076 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Primerica by 378.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 50,445 shares of the financial services provider’s stock worth $9,787,000 after acquiring an additional 39,905 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Primerica during the third quarter worth approximately $6,098,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Primerica by 44.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 84,938 shares of the financial services provider’s stock valued at $16,479,000 after acquiring an additional 25,981 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Down 2.3 %

Shares of Primerica stock opened at $213.46 on Monday. Primerica, Inc. has a 12-month low of $173.00 and a 12-month high of $256.56. The stock has a 50 day moving average price of $240.84 and a two-hundred day moving average price of $222.93. The stock has a market capitalization of $7.41 billion, a P/E ratio of 13.44 and a beta of 1.06.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.27 by ($0.02). The firm had revenue of $726.34 million for the quarter, compared to the consensus estimate of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. Primerica’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.49 earnings per share. Sell-side analysts anticipate that Primerica, Inc. will post 17.78 earnings per share for the current year.

Primerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were paid a $0.75 dividend. The ex-dividend date was Tuesday, February 20th. This is a positive change from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. Primerica’s payout ratio is presently 18.89%.

Analysts Set New Price Targets

PRI has been the topic of a number of recent research reports. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research note on Monday, February 12th. Morgan Stanley increased their price objective on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Truist Financial raised their price objective on shares of Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, StockNews.com upgraded shares of Primerica from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus target price of $245.50.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Nicholas Adam Jendusa sold 234 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $249.81, for a total transaction of $58,455.54. Following the transaction, the insider now owns 100 shares in the company, valued at approximately $24,981. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $243.41, for a total transaction of $365,115.00. Following the completion of the sale, the president now owns 13,259 shares of the company’s stock, valued at approximately $3,227,373.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,708 shares of company stock valued at $1,648,677. Insiders own 0.85% of the company’s stock.

Primerica 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.