6,686 Shares in Primerica, Inc. $PRI Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired a stake of 6,686 shares in Primerica, Inc. valued at approximately $1.9 million, boosting its holdings in the company.
• Primerica's recent quarterly earnings exceeded estimates, with an EPS of $5.46, surpassing the consensus forecast of $5.18.
• The company announced a quarterly dividend of $1.04 per share, reflecting an annualized dividend yield of 1.6%.

Strs Ohio acquired a new stake in Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,686 shares of the financial services provider's stock, valued at approximately $1,902,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its holdings in Primerica by 2,300.0% in the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 161 shares in the last quarter. Summit Securities Group LLC purchased a new position in Primerica in the 1st quarter valued at $64,000. Golden State Wealth Management LLC lifted its holdings in Primerica by 105.7% in the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 130 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Primerica by 205.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 263 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 177 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Primerica by 26.9% in the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Trading Down 0.7%

Shares of NYSE:PRI opened at $268.09 on Wednesday. The business has a 50-day moving average price of $266.40 and a 200 day moving average price of $268.55. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 13.25 and a beta of 1.00. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $796.02 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $4.71 EPS. As a group, equities research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The firm also recently disclosed 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 dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 22nd. Primerica's dividend payout ratio (DPR) is presently 20.55%.

Analysts Set New Price Targets

PRI has been the topic of a number of research reports. Jefferies Financial Group decreased their price objective on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Morgan Stanley raised their target price on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Finally, Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $315.29.

Insider Activity

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.