Price T Rowe Associates Inc. MD Reduces Stock Position in Primerica, Inc. (NYSE:PRI)

Price T Rowe Associates Inc. MD reduced its stake in Primerica, Inc. (NYSE:PRI) by 2.0% in the first quarter, Holdings Channel.com reports. The fund owned 284,524 shares of the financial services provider’s stock after selling 5,765 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Primerica were worth $71,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in Primerica by 27.5% during the fourth quarter. SG Americas Securities LLC now owns 3,223 shares of the financial services provider’s stock valued at $663,000 after acquiring an additional 696 shares in the last quarter. JLB & Associates Inc. boosted its holdings in Primerica by 190.9% in the 4th quarter. JLB & Associates Inc. now owns 5,122 shares of the financial services provider’s stock valued at $1,054,000 after purchasing an additional 3,361 shares during the period. Trust Point Inc. purchased a new position in shares of Primerica during the 4th quarter valued at $339,000. International Assets Investment Management LLC increased its holdings in shares of Primerica by 20,472.7% in the fourth quarter. International Assets Investment Management LLC now owns 2,263 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 2,252 shares during the period. Finally, Sapient Capital LLC bought a new position in shares of Primerica in the fourth quarter worth $474,000. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PRI. Jefferies Financial Group lifted their price objective on Primerica from $239.00 to $249.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods lifted their price target on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Morgan Stanley decreased their price objective on shares of Primerica from $245.00 to $243.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com lowered shares of Primerica from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $260.50.

Insider Activity

In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction on Friday, May 24th. The shares were sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now owns 11,759 shares in the company, valued at approximately $2,674,466.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Glenn J. Williams sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total transaction of $668,280.00. Following the completion of the sale, the chief executive officer now directly owns 48,322 shares in the company, valued at approximately $10,764,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the transaction, the president now owns 11,759 shares in the company, valued at $2,674,466.96. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Primerica Stock Down 0.3 %

Shares of PRI stock opened at $249.70 on Tuesday. The business has a 50-day moving average price of $234.88 and a two-hundred day moving average price of $234.70. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $256.56. The firm has a market cap of $8.59 billion, a P/E ratio of 15.20 and a beta of 1.09.

Primerica (NYSE:PRI) last released its earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.12 by ($0.21). The firm had revenue of $742.83 million during the quarter, compared to the consensus estimate of $740.57 million. Primerica had a return on equity of 27.35% and a net margin of 20.44%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 EPS. As a group, research analysts expect that Primerica, Inc. will post 17.73 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st were paid a $0.75 dividend. The ex-dividend date was Monday, May 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.20%. Primerica’s dividend payout ratio (DPR) is 18.26%.

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.