Algert Global LLC Raises Holdings in Primerica, Inc. (NYSE:PRI)

Algert Global LLC lifted its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,111 shares of the financial services provider's stock after buying an additional 1,043 shares during the period. Algert Global LLC's holdings in Primerica were worth $3,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Primerica in the 4th quarter worth approximately $34,191,000. AQR Capital Management LLC grew its holdings in shares of Primerica by 254.5% in the fourth quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock worth $31,558,000 after purchasing an additional 83,477 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Primerica by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 779,760 shares of the financial services provider's stock worth $211,691,000 after buying an additional 82,921 shares during the period. FIL Ltd raised its holdings in Primerica by 85.5% during the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock valued at $35,655,000 after buying an additional 60,565 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock valued at $94,194,000 after buying an additional 46,935 shares during the period. Institutional investors own 90.88% of the company's stock.

Insider Activity

In other news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the transaction, the president now owns 13,301 shares of the company's stock, valued at $3,762,852.90. The trade was a 13.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn J. Williams sold 3,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $281.74, for a total transaction of $845,220.00. Following the completion of the transaction, the chief executive officer now owns 33,322 shares in the company, valued at approximately $9,388,140.28. The trade was a 8.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,234 shares of company stock worth $1,476,575. Insiders own 0.61% of the company's stock.

Primerica Price Performance

PRI traded up $0.78 on Tuesday, hitting $274.07. The company had a trading volume of 26,264 shares, compared to its average volume of 156,637. Primerica, Inc. has a 52-week low of $219.52 and a 52-week high of $307.91. The stock has a fifty day simple moving average of $269.50 and a 200-day simple moving average of $280.14. The firm has a market capitalization of $9.07 billion, a P/E ratio of 19.93 and a beta of 1.02.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.02 EPS for the quarter, beating analysts' consensus estimates of $4.77 by $0.25. The company had revenue of $803.56 million during the quarter, compared to analysts' expectations of $783.54 million. Primerica had a return on equity of 31.11% and a net margin of 15.14%. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.91 EPS. Equities research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, May 22nd. Primerica's dividend payout ratio is 27.98%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRI. Morgan Stanley decreased their price objective on shares of Primerica from $313.00 to $304.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods reduced their price target on Primerica from $320.00 to $315.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They set a "market perform" rating and a $311.00 price target for the company. Finally, StockNews.com cut Primerica from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Primerica has an average rating of "Hold" and an average price target of $309.14.

Primerica Company 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.