Primerica, Inc. $PRI Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its position in Primerica, Inc. (NYSE:PRI) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,170 shares of the financial services provider’s stock after selling 16,361 shares during the period. Royal London Asset Management Ltd. owned about 0.46% of Primerica worth $40,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position in Primerica by 20.6% in the first quarter. Integrated Wealth Concepts LLC now owns 2,142 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 366 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Primerica by 27.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock valued at $36,894,000 after purchasing an additional 28,129 shares in the last quarter. Empowered Funds LLC acquired a new position in Primerica during the 1st quarter worth approximately $1,763,000. Focus Partners Wealth increased its position in Primerica by 17.5% during the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 208 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Primerica by 205.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock worth $75,000 after buying an additional 177 shares in the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Trading Down 0.5%

PRI stock opened at $289.86 on Friday. The firm has a 50 day moving average of $304.77 and a 200-day moving average of $278.97. Primerica, Inc. has a 12-month low of $230.09 and a 12-month high of $327.28. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 11.64 and a beta of 0.87.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $6.03 by $0.38. The business had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a return on equity of 32.45% and a net margin of 23.20%.The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.46 EPS. Sell-side analysts forecast that Primerica, Inc. will post 25.09 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $4.80 annualized dividend and a yield of 1.7%. Primerica’s dividend payout ratio is 19.28%.

Insider Buying and Selling at Primerica

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $312.65, for a total transaction of $562,770.00. Following the completion of the transaction, the president directly owned 8,011 shares in the company, valued at approximately $2,504,639.15. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amber Lynne Cottle sold 279 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $313.63, for a total transaction of $87,502.77. Following the transaction, the director owned 3,549 shares of the company’s stock, valued at $1,113,072.87. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,079 shares of company stock valued at $1,551,308. Insiders own 0.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PRI shares. Truist Financial reissued a “hold” rating and issued a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday. Keefe, Bruyette & Woods upped their price objective on Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a report on Tuesday, August 11th. TD Cowen increased their price objective on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group raised their target price on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a report on Friday, July 10th. Finally, Weiss Ratings lowered shares of Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $315.57.

Primerica Company Profile

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.