Amundi Cuts Holdings in Primerica, Inc. $PRI

Key Points

• Amundi has significantly reduced its holdings in Primerica, Inc. by 70.4%, owning only 8,368 shares after selling 19,888 shares during the first quarter, leaving the value of its holdings at approximately $2.3 million.
• Several hedge funds have recently altered their positions in Primerica, with True Wealth Design LLC purchasing new shares and other firms significantly increasing their investments, contributing to 90.88% of the company's stock being owned by institutional investors.
• Primerica declared a quarterly dividend of $1.04 per share, reflecting a 1.5% dividend yield, with the payment scheduled for September 15th for stockholders on record by August 22nd.

Amundi lowered its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 70.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,368 shares of the financial services provider's stock after selling 19,888 shares during the quarter. Amundi's holdings in Primerica were worth $2,305,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Primerica in the 4th quarter valued at about $27,000. Headlands Technologies LLC increased its holdings in shares of 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 acquiring an additional 161 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Primerica in the 1st quarter valued at about $64,000. Golden State Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 130 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of 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 acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRI shares. Jefferies Financial Group dropped 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 price target 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 price target 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and a consensus price target of $315.29.

Insider Activity at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on 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 transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.61% of the stock is owned by corporate insiders.

Primerica Trading Up 1.8%

Primerica stock opened at $274.65 on Friday. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91. The stock has a 50 day moving average of $266.61 and a two-hundred day moving average of $268.88. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 13.57 and a beta of 1.00.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, beating the consensus estimate of $5.18 by $0.28. The business had revenue of $796.02 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $4.71 EPS. Equities analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 22nd. Primerica's dividend payout ratio (DPR) is currently 20.55%.

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.

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