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

LPL Financial LLC lessened its position in Primerica, Inc. (NYSE:PRI) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,035 shares of the financial services provider’s stock after selling 453 shares during the quarter. LPL Financial LLC’s holdings in Primerica were worth $2,855,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Advisors LLC acquired a new stake in Primerica in the 1st quarter valued at approximately $435,000. TD Asset Management Inc raised its position in Primerica by 1.8% in the 1st quarter. TD Asset Management Inc now owns 8,921 shares of the financial services provider’s stock valued at $2,538,000 after buying an additional 155 shares during the last quarter. HB Wealth Management LLC raised its position 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 raised its position 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. Finally, Assetmark Inc. raised its position in Primerica by 17.1% in the 1st quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider’s stock valued at $506,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company’s stock.

Primerica Price Performance

Shares of NYSE PRI 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 business has a fifty day moving average price of $264.98 and a two-hundred day moving average price of $270.87. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.28. The firm had revenue of $796.02 million during the quarter, compared to analysts’ expectations of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.71 EPS. On average, equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be issued a $1.04 dividend. 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%.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the completion of the transaction, the chief executive officer owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

About Primerica

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.