Primerica, Inc. $PRI Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Primerica, Inc. by 100.7% during Q1, acquiring an additional 12,190 shares, bringing its total ownership to 24,301 shares valued at approximately $6.9 million.
• Primerica's CEO, Glenn J. Williams, sold 2,500 shares of company stock, representing a 6.43% decrease in his ownership, while the company's stock has shown a 12-month high of $307.91 and a low of $230.98.
• Analyst ratings for Primerica include a consensus rating of "Hold" and a target price increase from Morgan Stanley to $296.00, with expectations for earnings per share of 20.6 for the current year.

Algert Global LLC lifted its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 100.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,301 shares of the financial services provider's stock after buying an additional 12,190 shares during the quarter. Algert Global LLC owned approximately 0.07% of Primerica worth $6,914,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Cresset Asset Management LLC raised its holdings in shares of Primerica by 43.0% during the first quarter. Cresset Asset Management LLC now owns 1,284 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 386 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Primerica by 20.1% during the first quarter. American Century Companies Inc. now owns 94,670 shares of the financial services provider's stock worth $26,936,000 after buying an additional 15,841 shares during the period. Ethic Inc. boosted its position in shares of Primerica by 2.9% during the first quarter. Ethic Inc. now owns 3,107 shares of the financial services provider's stock worth $895,000 after buying an additional 88 shares during the period. Brandywine Global Investment Management LLC boosted its position in shares of Primerica by 59.0% during the first quarter. Brandywine Global Investment Management LLC now owns 43,719 shares of the financial services provider's stock worth $12,439,000 after buying an additional 16,229 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Primerica by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider's stock worth $173,963,000 after buying an additional 16,350 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

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

Primerica Stock Up 1.8%

Primerica stock traded up $4.8760 during midday trading on Friday, reaching $269.9860. The company's stock had a trading volume of 144,979 shares, compared to its average volume of 163,886. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The company has a market cap of $8.74 billion, a P/E ratio of 13.34 and a beta of 0.99. The business has a 50-day simple moving average of $265.62 and a 200-day simple moving average of $270.31.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 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 for the quarter, compared to analysts' expectations of $790.99 million. During the same quarter in the previous year, the firm earned $4.71 earnings per share. The business's revenue was up .3% compared to the same quarter last year. As a group, equities analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm 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. 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 currently 20.55%.

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.