AQR Capital Management LLC Acquires 199,715 Shares of Primerica, Inc. $PRI

Key Points

• AQR Capital Management LLC significantly increased its holdings in Primerica, Inc. by 171.8% during the first quarter, acquiring an additional 199,715 shares and bringing its total ownership to approximately 0.95% of the company.
• CEO Glenn J. Williams sold 2,500 shares of Primerica stock, resulting in a 6.43% decrease in his position, which is now valued at around $9.54 million.
• Primerica recently announced a quarterly dividend of $1.04 per share, reflecting an annualized dividend yield of 1.5% and a payout ratio of 20.55%.

AQR Capital Management LLC raised its position in Primerica, Inc. (NYSE:PRI - Free Report) by 171.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,986 shares of the financial services provider's stock after purchasing an additional 199,715 shares during the quarter. AQR Capital Management LLC owned 0.95% of Primerica worth $89,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. HB Wealth Management LLC raised its stake in shares of Primerica by 1.9% in the 1st quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock valued at $594,000 after purchasing an additional 38 shares during the period. Applied Finance Capital Management LLC raised its stake in shares of Primerica by 5.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 42 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Primerica by 1.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after purchasing an additional 44 shares during the period. Xponance Inc. grew its holdings in shares of Primerica by 1.2% in the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock valued at $1,122,000 after acquiring an additional 47 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Primerica by 15.3% in the 1st quarter. TD Private Client Wealth LLC now owns 421 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRI shares. Morgan Stanley raised their price objective on Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Jefferies Financial Group cut their price objective 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, Keefe, Bruyette & Woods raised their price objective 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 analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $315.29.

Primerica Trading Down 0.6%

Primerica stock traded down $1.57 during midday trading on Wednesday, reaching $269.93. The company's stock had a trading volume of 25,270 shares, compared to its average volume of 170,152. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91. The business has a 50-day moving average price of $266.76 and a 200-day moving average price of $268.88. The stock has a market cap of $8.74 billion, a PE ratio of 13.33 and a beta of 1.00.

Primerica (NYSE:PRI - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $790.99 million. During the same quarter in the previous year, the business posted $4.71 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

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

About Primerica

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.