LPL Financial LLC Has $2.86 Million Stake in Primerica, Inc. $PRI

LPL Financial LLC reduced its holdings in Primerica, Inc. (NYSE:PRI) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,035 shares of the financial services provider’s stock after selling 453 shares during the period. LPL Financial LLC’s holdings in Primerica were worth $2,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mariner LLC increased its stake in Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider’s stock valued at $709,000 after buying an additional 36 shares during the last quarter. HB Wealth Management LLC increased its stake in Primerica by 1.9% in the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider’s stock valued at $594,000 after buying an additional 38 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider’s stock valued at $239,000 after buying an additional 42 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Primerica by 1.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider’s stock valued at $881,000 after buying an additional 44 shares during the last quarter. Finally, Xponance Inc. increased its stake in Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 47 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Primerica Price Performance

PRI stock opened at $261.36 on Monday. The stock has a market capitalization of $8.47 billion, a PE ratio of 12.91 and a beta of 0.99. The company’s 50-day moving average is $264.98 and its 200-day moving average is $270.87. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91.

Primerica (NYSE:PRI) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. During the same period last year, the firm earned $4.71 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.6%. Primerica’s payout ratio is currently 20.55%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a research report on Monday, August 11th. Morgan Stanley lifted their price objective on shares of Primerica from $274.00 to $296.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research report on Monday, August 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $313.57.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the sale, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Primerica 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.