Royal London Asset Management Ltd. Trims Stock Holdings in Primerica, Inc. $PRI

Royal London Asset Management Ltd. lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,170 shares of the financial services provider’s stock after selling 16,361 shares during the period. Royal London Asset Management Ltd.’s holdings in Primerica were worth $40,121,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PRI. Kingsview Wealth Management LLC purchased a new stake in shares of Primerica during the second quarter worth about $1,619,000. Beacon Pointe Advisors LLC purchased a new position in shares of Primerica during the second quarter valued at approximately $869,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Primerica during the second quarter worth approximately $4,291,000. Public Employees Retirement System of Ohio acquired a new stake in Primerica during the second quarter worth approximately $2,754,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Primerica in the 2nd quarter worth approximately $980,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Primerica

In related news, CEO Glenn J. Williams sold 1,500 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $320.20, for a total transaction of $480,300.00. Following the completion of the sale, the chief executive officer directly owned 32,196 shares of the company’s stock, valued at approximately $10,309,159.20. This represents a 4.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $312.65, for a total transaction of $562,770.00. Following the sale, the president directly owned 8,011 shares of the company’s stock, valued at approximately $2,504,639.15. This trade represents a 18.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,079 shares of company stock valued at $1,551,308 over the last 90 days. Corporate insiders own 0.63% of the company’s stock.

Primerica Stock Performance

Shares of NYSE:PRI opened at $289.86 on Friday. Primerica, Inc. has a 1 year low of $230.09 and a 1 year high of $327.28. The stock has a market capitalization of $8.92 billion, a P/E ratio of 11.64 and a beta of 0.87. The stock has a 50-day simple moving average of $304.77 and a 200-day simple moving average of $278.97.

Primerica (NYSE:PRI) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $6.03 by $0.38. The firm had revenue of $865.07 million for the quarter, compared to analyst estimates of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. Primerica’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.46 earnings per share. Analysts predict that Primerica, Inc. will post 25.09 earnings per share for the current year.

Primerica Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PRI shares. Keefe, Bruyette & Woods boosted their price target on Primerica from $323.00 to $335.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. Morgan Stanley raised their price objective on Primerica from $291.00 to $316.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Truist Financial reaffirmed a “hold” rating and issued a $320.00 price objective (down from $370.00) on shares of Primerica in a research report on Thursday. TD Cowen increased their target price on Primerica from $322.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Primerica presently has an average rating of “Hold” and a consensus price target of $315.57.

Primerica 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.