Securian Asset Management Inc. Sells 108 Shares of Primerica, Inc. (NYSE:PRI)

Securian Asset Management Inc. lowered its stake in shares of Primerica, Inc. (NYSE:PRI) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,523 shares of the financial services provider’s stock after selling 108 shares during the quarter. Securian Asset Management Inc.’s holdings in Primerica were worth $685,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in Primerica during the third quarter valued at about $31,000. Golden State Wealth Management LLC bought a new position in Primerica during the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its position in Primerica by 129.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 126 shares of the financial services provider’s stock valued at $34,000 after buying an additional 71 shares during the period. Larson Financial Group LLC grew its position in Primerica by 56.8% during the third quarter. Larson Financial Group LLC now owns 149 shares of the financial services provider’s stock valued at $39,000 after buying an additional 54 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Primerica by 116.2% during the fourth quarter. Venturi Wealth Management LLC now owns 214 shares of the financial services provider’s stock valued at $58,000 after buying an additional 115 shares during the period. Institutional investors own 90.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PRI. Piper Sandler reduced their price target on shares of Primerica from $313.00 to $300.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Morgan Stanley cut their target price on shares of Primerica from $313.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. BMO Capital Markets began coverage on shares of Primerica in a research report on Thursday, January 23rd. They set a “market perform” rating and a $311.00 target price for the company. TD Cowen increased their target price on shares of Primerica from $314.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $309.86.

Primerica Trading Up 3.3 %

Shares of Primerica stock opened at $285.76 on Monday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $307.91. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 20.78 and a beta of 1.12. The company’s 50-day moving average price is $284.60 and its 200-day moving average price is $279.81.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $5.03 earnings per share (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%. On average, sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 21st were given a dividend of $1.04 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Primerica’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 1.46%. Primerica’s payout ratio is presently 30.25%.

Insider Buying and Selling at Primerica

In other Primerica news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the sale, the chief executive officer now directly owns 33,322 shares in the company, valued at $9,388,140.28. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total transaction of $565,800.00. Following the sale, the president now owns 13,301 shares of the company’s stock, valued at approximately $3,762,852.90. The trade was a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,234 shares of company stock worth $1,476,575 over the last three months. 0.85% of the stock is owned by insiders.

About Primerica

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.