Royal London Asset Management Ltd. Cuts Stake in Primerica, Inc. (NYSE:PRI)

Royal London Asset Management Ltd. lessened its holdings in shares of Primerica, Inc. (NYSE:PRI) by 0.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,639 shares of the financial services provider’s stock after selling 65 shares during the period. Royal London Asset Management Ltd. owned approximately 0.48% of Primerica worth $43,058,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in Primerica in the fourth quarter valued at about $34,191,000. SVB Wealth LLC acquired a new position in shares of Primerica during the fourth quarter valued at about $10,703,000. Strategic Financial Concepts LLC purchased a new position in shares of Primerica in the 4th quarter valued at approximately $8,767,000. Amundi acquired a new stake in Primerica in the 4th quarter worth approximately $7,868,000. Finally, Geode Capital Management LLC boosted its stake in Primerica by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after purchasing an additional 25,951 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Stock Down 0.3 %

Shares of PRI opened at $288.65 on Friday. The stock’s 50-day moving average price is $285.57 and its 200-day moving average price is $280.31. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 20.99 and a beta of 1.12. Primerica, Inc. has a 52 week low of $184.76 and a 52 week high of $307.91.

Primerica (NYSE:PRI) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping analysts’ consensus estimates of $4.81 by $0.22. Primerica had a net margin of 15.14% and a return on equity of 31.11%. As a group, equities analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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. This represents a $4.16 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, February 21st. Primerica’s dividend payout ratio is presently 30.25%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PRI. StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, February 7th. TD Cowen upped their target price on Primerica from $314.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler lowered their price target on Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets started coverage on Primerica in a report on Thursday, January 23rd. They issued a “market perform” rating and a $311.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Primerica presently has an average rating of “Hold” and an average target price of $309.86.

Insider Activity

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

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.