Principal Financial Group Inc. grew its stake in shares of Primerica, Inc. (NYSE:PRI) by 2.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 149,584 shares of the financial services provider’s stock after acquiring an additional 4,043 shares during the quarter. Principal Financial Group Inc. owned about 0.38% of Primerica worth $22,908,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Summit Wealth Group LLC bought a new stake in shares of Primerica during the 1st quarter valued at $28,000. SkyView Investment Advisors LLC lifted its position in shares of Primerica by 390.2% during the 1st quarter. SkyView Investment Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 160 shares during the period. Van ECK Associates Corp bought a new stake in shares of Primerica during the 1st quarter worth $32,000. Eagle Bay Advisors LLC bought a new stake in shares of Primerica during the 2nd quarter worth $64,000. Finally, PNC Managed Account Solutions Inc. bought a new stake in shares of Primerica during the 2nd quarter worth $97,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.
Several brokerages recently weighed in on PRI. Zacks Investment Research downgraded Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday. William Blair restated an “outperform” rating on shares of Primerica in a research report on Monday, September 20th. Finally, upped their price objective on Primerica from $140.00 to $144.00 and gave the stock a “sell” rating in a research report on Monday, June 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Primerica currently has an average rating of “Hold” and an average price target of $166.00.
Primerica (NYSE:PRI) last issued its earnings results on Thursday, August 5th. The financial services provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.37. Primerica had a return on equity of 23.32% and a net margin of 17.82%. The business had revenue of $654.16 million during the quarter, compared to analysts’ expectations of $617.60 million. On average, equities research analysts expect that Primerica, Inc. will post 11.63 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 14th. Shareholders of record on Friday, August 20th were issued a $0.47 dividend. The ex-dividend date was Thursday, August 19th. This represents a $1.88 dividend on an annualized basis and a yield of 1.23%. Primerica’s payout ratio is presently 19.38%.
In other news, President Peter W. Schneider sold 3,500 shares of the stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $152.54, for a total value of $533,890.00. Following the completion of the sale, the president now owns 22,672 shares of the company’s stock, valued at $3,458,386.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alison S. Rand sold 1,500 shares of the stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $152.20, for a total value of $228,300.00. Following the completion of the sale, the chief financial officer now directly owns 13,347 shares of the company’s stock, valued at approximately $2,031,413.40. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
Primerica Company Profile
Primerica, Inc engages in the provision of financial products to middle-income households. It operates through the following segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits in the in-force book of term life insurance policies.
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