Citigroup to sell Primerica stock

Citigroup plans sell off its remaining holdings Duluth-based insurance and financial services firm Primerica.

Primerica, which was spun out of Citigroup last year and taken public, said Tuesday the New York-based banking giant would sell its remaining stake of around 8 million common shares.

In November, Primerica repurchased nearly 9 million shares from Citigroup for $22.42 per share. Citigroup currently holds a 12.5 percent stake in the company. Citigroup spun off Primerica last year as it focused on core businesses following the financial crisis.

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