Primerica, Inc. $PRI Shares Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC boosted its position in Primerica, Inc. (NYSE:PRI) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,680 shares of the financial services provider’s stock after purchasing an additional 79 shares during the quarter. Maridea Wealth Management LLC’s holdings in Primerica were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Primerica during the first quarter worth about $156,019,000. GAMMA Investing LLC grew its stake in Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider’s stock worth $126,132,000 after acquiring an additional 442,170 shares during the period. AQR Capital Management LLC grew its stake in Primerica by 171.8% in the 1st quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider’s stock worth $89,907,000 after acquiring an additional 199,715 shares during the period. Vanguard Group Inc. grew its stake in Primerica by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider’s stock worth $994,048,000 after acquiring an additional 37,994 shares during the period. Finally, Westfield Capital Management Co. LP grew its stake 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 worth $78,594,000 after acquiring an additional 36,095 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $655,500.00. Following the completion of the sale, the chief executive officer directly owned 36,392 shares of the company’s stock, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Primerica Stock Performance

Shares of NYSE:PRI opened at $274.29 on Friday. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The stock has a market capitalization of $8.88 billion, a P/E ratio of 13.55 and a beta of 1.00. The stock has a 50-day simple moving average of $267.73 and a 200-day simple moving average of $268.26.

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

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were 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 was Friday, August 22nd. Primerica’s dividend payout ratio is 20.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRI. Morgan Stanley lifted their price objective on Primerica from $292.00 to $308.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Jefferies Financial Group lowered 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, BMO Capital Markets upgraded shares of Primerica from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $292.00 to $318.00 in a report on Tuesday. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $316.29.

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.