Amundi Has $2.31 Million Position 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 reduced its position in Primerica, Inc. (NYSE:PRI - Free Report) by 70.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,368 shares of the financial services provider's stock after selling 19,888 shares during the period. Amundi's holdings in Primerica were worth $2,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Primerica in the fourth quarter worth about $27,000. Headlands Technologies LLC increased its position in Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after purchasing an additional 161 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Primerica during the 1st quarter worth approximately $64,000. Golden State Wealth Management LLC grew its position in shares of Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after buying an additional 130 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Primerica by 26.9% during the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after buying an additional 65 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of 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 lowered 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. Finally, Morgan Stanley lifted their price objective on Primerica from $292.00 to $308.00 and gave the stock 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $315.29.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the completion of the transaction, the chief executive officer owned 36,392 shares in the company, valued at $9,541,982.40. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

Primerica Trading Up 1.2%

Shares of PRI stock traded up $3.09 on Wednesday, hitting $270.74. The stock had a trading volume of 181,531 shares, compared to its average volume of 169,755. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91. The firm has a market cap of $8.77 billion, a P/E ratio of 13.38 and a beta of 1.00. The company has a fifty day moving average price of $266.42 and a two-hundred day moving average price of $268.56.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $796.02 million during the quarter, compared to analysts' expectations of $790.99 million. During the same period in the previous year, the firm earned $4.71 earnings per share. The company's revenue was up .3% on a year-over-year basis. On average, analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current 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 $1.04 dividend. The ex-dividend date was Friday, August 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.5%. Primerica's payout ratio 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.