Retirement Systems of Alabama Increases Stock Position in Primerica, Inc. (NYSE:PRI)

Retirement Systems of Alabama raised its holdings in Primerica, Inc. (NYSE:PRIFree Report) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,994 shares of the financial services provider’s stock after purchasing an additional 116 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Primerica worth $11,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. UBS Group AG grew its holdings in shares of Primerica by 5.7% in the 3rd quarter. UBS Group AG now owns 10,656 shares of the financial services provider’s stock worth $2,067,000 after acquiring an additional 579 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Primerica by 40.8% in the 3rd quarter. Hsbc Holdings PLC now owns 1,476 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 428 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Primerica by 74.3% in the 3rd quarter. Lazard Asset Management LLC now owns 3,188 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 1,359 shares during the period. AQR Capital Management LLC grew its holdings in shares of Primerica by 61.4% in the 3rd quarter. AQR Capital Management LLC now owns 22,123 shares of the financial services provider’s stock worth $4,292,000 after acquiring an additional 8,412 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Primerica by 2.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,638 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Primerica Trading Down 1.1 %

Shares of NYSE PRI opened at $233.01 on Friday. Primerica, Inc. has a 12-month low of $184.76 and a 12-month high of $256.56. The company has a market cap of $8.02 billion, a P/E ratio of 14.18 and a beta of 1.09. The stock has a fifty day moving average price of $227.05 and a 200 day moving average price of $230.07.

Primerica (NYSE:PRIGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The financial services provider reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.12 by ($0.21). Primerica had a net margin of 20.44% and a return on equity of 27.35%. The company had revenue of $742.83 million during the quarter, compared to analyst estimates of $740.57 million. During the same quarter in the prior year, the company posted $3.49 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Primerica, Inc. will post 17.66 EPS for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.75 per share. The ex-dividend date was Monday, May 20th. This represents a $3.00 annualized dividend and a dividend yield of 1.29%. Primerica’s dividend payout ratio is presently 18.26%.

Insider Activity

In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total transaction of $341,160.00. Following the completion of the sale, the president now directly owns 11,759 shares in the company, valued at $2,674,466.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Glenn J. Williams sold 3,000 shares of Primerica stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $222.76, for a total value of $668,280.00. Following the completion of the transaction, the chief executive officer now directly owns 48,322 shares in the company, valued at $10,764,208.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $227.44, for a total value of $341,160.00. Following the completion of the transaction, the president now owns 11,759 shares of the company’s stock, valued at $2,674,466.96. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PRI. Jefferies Financial Group increased their target price on Primerica from $235.00 to $236.00 and gave the company a “hold” rating in a report on Friday, June 28th. Morgan Stanley increased their target price on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on Primerica from $255.00 to $260.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, StockNews.com lowered 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $255.25.

Read Our Latest Analysis on Primerica

Primerica Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Primerica (NYSE:PRI)

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