Principal Financial Group Inc. Has $20.79 Million Stake in Primerica, Inc. (NYSE:PRI)

Principal Financial Group Inc. lessened its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 31.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,415 shares of the financial services provider's stock after selling 36,189 shares during the period. Principal Financial Group Inc. owned about 0.23% of Primerica worth $20,792,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Burgundy Asset Management Ltd. grew its position in shares of Primerica by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,237,164 shares of the financial services provider's stock valued at $292,688,000 after acquiring an additional 17,095 shares during the period. Millennium Management LLC lifted its stake in Primerica by 30,726.7% in the 2nd quarter. Millennium Management LLC now owns 680,961 shares of the financial services provider's stock valued at $161,102,000 after purchasing an additional 678,752 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Primerica by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 637,753 shares of the financial services provider's stock worth $150,880,000 after purchasing an additional 21,836 shares during the period. Raymond James & Associates increased its position in Primerica by 4.6% during the third quarter. Raymond James & Associates now owns 121,349 shares of the financial services provider's stock worth $32,176,000 after buying an additional 5,323 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Primerica by 66.3% in the second quarter. Los Angeles Capital Management LLC now owns 99,758 shares of the financial services provider's stock valued at $23,601,000 after buying an additional 39,761 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Glenn J. Williams sold 3,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $301.27, for a total value of $903,810.00. Following the completion of the transaction, the chief executive officer now owns 36,322 shares of the company's stock, valued at $10,942,728.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $301.27, for a total value of $903,810.00. Following the transaction, the chief executive officer now directly owns 36,322 shares of the company's stock, valued at $10,942,728.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Jr. Addison sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the transaction, the director now owns 15,151 shares of the company's stock, valued at $3,846,081.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,500 shares of company stock worth $1,803,175. 0.85% of the stock is currently owned by company insiders.

Primerica Stock Performance

NYSE:PRI traded down $3.61 during mid-day trading on Thursday, reaching $296.57. 62,716 shares of the company's stock were exchanged, compared to its average volume of 154,458. Primerica, Inc. has a one year low of $184.76 and a one year high of $304.84. The business's fifty day simple moving average is $272.02 and its two-hundred day simple moving average is $250.23. The firm has a market capitalization of $9.90 billion, a PE ratio of 22.88 and a beta of 1.08.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $5.68 EPS for the quarter, topping the consensus estimate of $4.81 by $0.87. The company had revenue of $774.13 million for the quarter, compared to analysts' expectations of $745.25 million. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $4.28 earnings per share. As a group, equities research analysts forecast that Primerica, Inc. will post 19.12 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.60 annualized dividend and a yield of 1.21%. Primerica's dividend payout ratio is presently 27.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PRI shares. Morgan Stanley lifted their target price on Primerica from $257.00 to $269.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. TD Cowen began coverage on shares of Primerica in a research report on Wednesday, October 9th. They set a "buy" rating and a $314.00 price objective for the company. Truist Financial increased their price objective on shares of Primerica from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, November 8th. StockNews.com downgraded shares of Primerica from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Finally, Jefferies Financial Group increased their price target on shares of Primerica from $239.00 to $249.00 and gave the company a "hold" rating in a report on Thursday, July 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $288.33.

Primerica Company 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.