Primerica, Inc. $PRI Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its stake in Primerica, Inc. by 17.2%, selling 2,113 shares and maintaining a holding of 10,179 shares valued at $2.9 million.
• Primerica's Q2 earnings surpassed expectations with earnings per share of $5.46, above the consensus estimate of $5.18, contributing to a year-over-year revenue increase of 0.3%.
• The company announced a quarterly dividend of $1.04 per share, translating to an annualized dividend of $4.16, with a dividend yield of 1.6%.

AlphaQuest LLC reduced its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,179 shares of the financial services provider's stock after selling 2,113 shares during the period. Primerica accounts for about 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 25th largest holding. AlphaQuest LLC's holdings in Primerica were worth $2,896,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PRI. Nuveen LLC purchased a new position in Primerica during the 1st quarter valued at about $156,019,000. GAMMA Investing LLC raised its holdings in 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 raised its holdings in 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 buying an additional 83,477 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Primerica by 2,508.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock worth $15,606,000 after buying an additional 55,295 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Primerica by 15.6% in the fourth quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock worth $94,194,000 after buying an additional 46,935 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Primerica Trading Down 1.3%

NYSE PRI traded down $3.5240 during trading hours on Monday, hitting $266.3260. 102,104 shares of the company's stock traded hands, compared to its average volume of 169,742. The business's fifty day moving average price is $265.74 and its two-hundred day moving average price is $269.74. The firm has a market capitalization of $8.63 billion, a P/E ratio of 13.16 and a beta of 0.99. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The company had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period in the previous year, the business posted $4.71 earnings per share. The firm's quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica's dividend payout ratio is presently 20.55%.

Insider Transactions at Primerica

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 sale, the chief executive officer owned 36,392 shares of the company's stock, valued at $9,541,982.40. This represents 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 through this link. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a report on Monday, August 11th. Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Monday, August 11th. Finally, Morgan Stanley lifted their target price 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. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Primerica has an average rating of "Hold" and a consensus price target of $315.29.

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.