Primerica, Inc. $PRI Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System grew its stake in Primerica, Inc. (NYSE:PRI) by 27,655.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,341,470 shares of the financial services provider’s stock after buying an additional 10,304,211 shares during the quarter. California State Teachers Retirement System owned about 0.34% of Primerica worth $2,939,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC raised its holdings 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 acquiring an additional 366 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Primerica by 27.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,666 shares of the financial services provider’s stock worth $36,894,000 after acquiring 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 shares of Primerica by 17.5% in the 1st quarter. Focus Partners Wealth now owns 1,398 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 208 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Primerica by 205.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 177 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Primerica news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $312.65, for a total value of $562,770.00. Following the completion of the transaction, the president owned 8,011 shares in the company, valued at $2,504,639.15. This represents a 18.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Glenn J. Williams sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $320.20, for a total value of $480,300.00. Following the transaction, the chief executive officer directly owned 32,196 shares in the company, valued at approximately $10,309,159.20. The trade was a 4.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,579 shares of company stock worth $1,130,573 in the last ninety days. 0.63% of the stock is owned by corporate insiders.

Primerica Stock Up 0.4%

Shares of PRI opened at $289.05 on Friday. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 11.61 and a beta of 0.86. Primerica, Inc. has a 52-week low of $230.09 and a 52-week high of $327.28. The stock has a 50 day moving average price of $305.95 and a 200 day moving average price of $281.29.

Primerica (NYSE:PRI) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $6.41 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.38. The company had revenue of $865.07 million for the quarter, compared to analysts’ expectations of $881.00 million. Primerica had a net margin of 23.20% and a return on equity of 32.45%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $5.46 earnings per share. On average, equities analysts anticipate that Primerica, Inc. will post 25.2 EPS for the current fiscal year.

Primerica Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $323.00 to $335.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. Weiss Ratings lowered Primerica from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Morgan Stanley raised their price target on Primerica from $291.00 to $316.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. Jefferies Financial Group raised their price target on Primerica from $266.00 to $268.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, Truist Financial reaffirmed a “hold” rating and set a $320.00 price target (down from $370.00) on shares of Primerica in a report on Thursday, August 27th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $315.57.

Primerica Profile

Primerica, Inc is a financial services company that helps middle-income households in the United States and Canada address their insurance, investment and retirement needs. The company primarily distributes its products through a network of independent representatives who provide financial education and assistance to clients.

Primerica’s principal offerings include term life insurance, mutual funds and other investment products, annuities, managed investments and retirement solutions. Through its subsidiaries and affiliated providers, the company also offers products and services related to mortgage lending, debt consolidation and other financial needs.

The company was founded in 1977 as A.L.