Primerica, Inc. (NYSE:PRI) Stock Position Cut by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,762 shares of the financial services provider's stock after selling 2,246 shares during the period. Corebridge Financial Inc. owned 0.11% of Primerica worth $10,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Primerica by 187.1% in the third quarter. Advisors Asset Management Inc. now owns 643 shares of the financial services provider's stock worth $170,000 after buying an additional 419 shares during the period. Great Valley Advisor Group Inc. purchased a new position in Primerica in the 3rd quarter worth approximately $398,000. Cerity Partners LLC purchased a new position in Primerica in the 3rd quarter worth approximately $983,000. Larson Financial Group LLC grew its position in Primerica by 56.8% in the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 54 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Primerica by 4.6% during the third quarter. Bank of Montreal Can now owns 34,685 shares of the financial services provider's stock valued at $9,128,000 after purchasing an additional 1,536 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Price Performance

NYSE:PRI traded down $6.58 during mid-day trading on Friday, reaching $283.34. The stock had a trading volume of 148,100 shares, compared to its average volume of 164,088. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 20.61 and a beta of 1.12. Primerica, Inc. has a 1-year low of $184.76 and a 1-year high of $307.91. The stock's 50 day simple moving average is $286.37 and its two-hundred day simple moving average is $281.97.

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Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share for the quarter, beating analysts' consensus estimates of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Sell-side analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were paid a dividend of $1.04 per share. This is a positive change from Primerica's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, February 21st. This represents a $4.16 annualized dividend and a yield of 1.47%. Primerica's payout ratio is presently 30.25%.

Insider Transactions at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now owns 200 shares of the company's stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the transaction, the president now owns 13,301 shares of the company's stock, valued at $3,762,852.90. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,234 shares of company stock worth $1,476,575. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PRI has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Primerica from $313.00 to $300.00 and set a "neutral" rating for the company in a report on Wednesday, December 18th. Morgan Stanley decreased their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods lifted their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Finally, BMO Capital Markets assumed coverage on Primerica in a research note on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price objective for the company. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $309.86.

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.