Principal Financial Group Inc. Has $19.98 Million Stock Position in Primerica, Inc. $PRI

Principal Financial Group Inc. lessened its position in shares of Primerica, Inc. (NYSE:PRI) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,963 shares of the financial services provider’s stock after selling 2,548 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Primerica worth $19,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRI. Olympiad Research LP boosted its stake in shares of Primerica by 3.9% in the 2nd quarter. Olympiad Research LP now owns 1,061 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 40 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in Primerica by 1.2% in the second quarter. Orion Porfolio Solutions LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 45 shares during the last quarter. Ascent Group LLC grew its holdings in Primerica by 6.5% during the 3rd quarter. Ascent Group LLC now owns 836 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 51 shares during the period. Vident Advisory LLC grew its holdings in Primerica by 3.2% during the 2nd quarter. Vident Advisory LLC now owns 1,776 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 55 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Primerica by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 22,844 shares of the financial services provider’s stock valued at $6,252,000 after acquiring an additional 60 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Stock Performance

Shares of PRI stock opened at $276.37 on Monday. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $298.75. The company’s 50 day moving average price is $260.40 and its two-hundred day moving average price is $263.85. The company has a market capitalization of $8.82 billion, a P/E ratio of 12.70 and a beta of 0.91.

Primerica announced that its board has initiated a share buyback plan on Wednesday, November 19th that allows the company to repurchase $475.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. Zacks Research raised Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Morgan Stanley set a $292.00 price objective on shares of Primerica in a research note on Monday, December 15th. Weiss Ratings raised shares of Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $300.00.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 2,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $255.30, for a total transaction of $510,600.00. Following the completion of the transaction, the president owned 7,301 shares in the company, valued at approximately $1,863,945.30. This represents a 21.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $259.65, for a total value of $649,125.00. Following the completion of the sale, the chief executive officer directly owned 33,892 shares in the company, valued at $8,800,057.80. This represents a 6.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,200 shares of company stock valued at $1,338,225. Company insiders own 0.61% of the company’s stock.

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.