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

Securian Asset Management Inc. trimmed its holdings in Primerica, Inc. (NYSE:PRI) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PRI. Raymond James Financial Inc. bought a new stake in shares of Primerica in the 4th quarter worth approximately $34,191,000. SVB Wealth LLC purchased a new position in shares of Primerica in the fourth quarter worth $10,703,000. Strategic Financial Concepts LLC purchased a new position in shares of Primerica in the fourth quarter worth $8,767,000. Amundi purchased a new position in shares of Primerica in the fourth quarter worth $7,868,000. Finally, Geode Capital Management LLC increased its stake in shares of Primerica by 3.9% in the third quarter. Geode Capital Management LLC now owns 696,839 shares of the financial services provider’s stock worth $184,807,000 after buying an additional 25,951 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Glenn J. Williams sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Peter W. Schneider sold 2,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,234 shares of company stock worth $1,476,575. Corporate insiders own 0.85% of the company’s stock.

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 P/E ratio of 20.78 and a beta of 1.12. The company’s fifty day simple moving average is $284.60 and its two-hundred day simple moving average is $279.81.

Primerica (NYSE:PRI) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, beating 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%. Analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 21st were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Primerica’s previous quarterly dividend of $0.90. Primerica’s payout ratio is 30.25%.

Primerica Company 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.