Ameriprise Financial Inc. Has $14.96 Million Stake in Primerica, Inc. (NYSE:PRI)

Ameriprise Financial Inc. lessened its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,127 shares of the financial services provider's stock after selling 1,062 shares during the quarter. Ameriprise Financial Inc. owned 0.17% of Primerica worth $14,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PRI. Raymond James Financial Inc. bought a new position in shares of Primerica during the 4th quarter worth approximately $34,191,000. AQR Capital Management LLC lifted its position in shares of Primerica by 254.5% during the 4th 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 period. Geode Capital Management LLC lifted its position in shares of Primerica by 11.9% during the 4th 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 lifted its position in shares of Primerica by 85.5% during the 4th quarter. FIL Ltd now owns 131,365 shares of the financial services provider's stock worth $35,655,000 after buying an additional 60,565 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Primerica by 15.6% during the 4th 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 period. Institutional investors own 90.88% of the company's stock.

Insider Activity at Primerica

In related news, insider Nicholas Adam Jendusa sold 234 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the completion of the sale, the insider now owns 200 shares in the company, valued at approximately $56,030. This represents a 53.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Peter W. Schneider sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now owns 13,301 shares of the company's stock, valued at $3,762,852.90. This represents a 13.07% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Primerica Price Performance

Shares of NYSE PRI traded down $1.80 during midday trading on Friday, hitting $266.78. The stock had a trading volume of 109,405 shares, compared to its average volume of 157,300. The company's 50-day simple moving average is $268.07 and its 200 day simple moving average is $279.92. The firm has a market cap of $8.83 billion, a P/E ratio of 19.40 and a beta of 1.02. Primerica, Inc. has a fifty-two week low of $219.52 and a fifty-two week high of $307.91.

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 the consensus estimate 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 business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $3.91 EPS. Equities analysts expect that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 22nd will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.56%. Primerica's dividend payout ratio is presently 27.98%.

Analyst Upgrades and Downgrades

PRI has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on Primerica from $320.00 to $315.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen downgraded Primerica from a "buy" rating to a "hold" rating in a research report on Friday, February 7th. Morgan Stanley lifted their price objective on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, BMO Capital Markets initiated coverage on Primerica in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective for the company. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $308.00.

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.