Allspring Global Investments Trims Stake in Primerica, Inc.

Allspring Global Investments Holdings LLC has significantly reduced its investment in Primerica, Inc., a notable provider of financial services. In the 3rd quarter, the firm slashed its holdings by 66.4%, as reported in its latest Form 13F filing with the SEC. The institution now possesses 1,610 shares following the divestiture of 3,188 shares within the quarter. The value of Allspring's remaining shares in Primerica was estimated at $312,000 by the end of the recent quarter.

Amidst these changes, other prominent investors have also altered their stakes in Primerica. American Century Companies Inc. increased their investment by 55.7% to 13,707 shares, valued at approximately $1,875,000. US Bancorp DE made an impressive leap by boosting their position by 1,844.1%, holding 1,983 shares worth $272,000. HighTower Advisors LLC modestly grew its Primerica holdings by 4.7%, with 6,839 shares valued at $939,000, while Bank of Montreal Can inched up its investment with an additional 199 shares, bringing its total to 24,752 shares valued at $3,413,000. MetLife Investment Management LLC escalated its stake by 33.4%, owning 25,533 shares worth $3,493,000. Collectively, hedge funds and institutional investors own 90.56% of Primerica's stock.

Insider Transactions at Primerica

In relation to insider activity, Alison S. Rand, Primerica's CFO, sold 3,000 shares at an average price of $210.07, totaling $630,210. After this transaction, Rand's stake in the company's stock stands at 6,444 shares, with an estimated value of $1,353,691.08.

Primerica's Stock Performance

The stock of Primerica opened at $229.13 on a recent Tuesday. With a 50-day moving average of $212.76 and a 200-day moving average of $206.81, the stock demonstrates stability. Primerica's market capitalization is $8.03 billion, with a PE ratio of 15.15 and a beta of 1.10. The company's shares hit a 52-week low of $155.68 and a 52-week high of $230.32.

For the recent quarterly earnings, Primerica reported an EPS of $4.28, beating the consensus estimate by $0.25. Revenue for the quarter was at $710.90 million, exceeding analyst predictions of $703.50 million. Furthermore, the company's return on equity was reported at 28.00% with a net margin of 19.94%. Compared to the same quarter in the previous year, revenue saw a 5.6% rise.

Moreover, Primerica has announced a share repurchase program that permits the buyback of $425.00 million in shares, potentially indicating the board's belief in the undervaluation of its stock.

Primerica Dividend News

The company also disclosed a quarterly dividend payment which was issued to shareholders. The $0.65 per share dividend resulted in an annualized dividend of $2.60 and a yield of 1.13%.

Analyst Opinions on Primerica

Various analysts have recently provided their stance on Primerica stocks. Morgan Stanley raised their price target to $200.00, maintaining an 'equal weight' rating, while StockNews.com upgraded the stock from 'hold' to 'buy'. In total, the stock has received a consensus rating of 'Moderate Buy' with an average price target of $219.20.

Primerica Company Profile

Primerica, Inc., along with its subsidiaries, primarily caters to middle-income households in North America with financial products. It operates across four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products, with a primary focus on individual term life insurance.

Allspring, Primerica, Investments