Primerica, Inc. $PRI Holdings Lowered by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in Primerica, Inc. (NYSE:PRI) by 21.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,124 shares of the financial services provider’s stock after selling 3,646 shares during the period. Intech Investment Management LLC’s holdings in Primerica were worth $3,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Primerica during the 1st quarter worth $156,019,000. GAMMA Investing LLC lifted its stake in shares of Primerica by 39,199.5% in the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider’s stock worth $126,132,000 after buying an additional 442,170 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Primerica by 171.8% in the first quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider’s stock worth $89,907,000 after buying an additional 199,715 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Primerica by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after buying an additional 37,994 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in Primerica by 15.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 276,225 shares of the financial services provider’s stock valued at $78,594,000 after buying an additional 36,095 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PRI shares. Morgan Stanley boosted their price objective on shares of Primerica from $292.00 to $308.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. Jefferies Financial Group dropped their price target on Primerica from $293.00 to $283.00 and set a “hold” rating for the company in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a research note on Monday, August 11th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $315.29.

Primerica Stock Performance

NYSE PRI opened at $274.28 on Friday. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91. The stock’s 50 day moving average price is $266.56 and its two-hundred day moving average price is $268.80. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 13.55 and a beta of 1.00.

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

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 22nd. Primerica’s payout ratio is 20.55%.

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.