BI Asset Management Fondsmaeglerselskab A S Sells 10,444 Shares of Primerica, Inc. $PRI

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Primerica, Inc. by 36.4%, owning now 18,266 shares valued at approximately $5.2 million.
• Several other institutional investors, including Barclays PLC and MetLife Investment Management LLC, have increased their holdings in Primerica, reflecting growing institutional interest.
• Primerica recently declared a quarterly dividend of $1.04 per share, with a dividend yield of 1.6%, signaling a positive return for investors.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 36.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,266 shares of the financial services provider's stock after selling 10,444 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.06% of Primerica worth $5,197,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC bought a new stake in shares of Primerica in the 4th quarter worth about $25,000. True Wealth Design LLC bought a new stake in shares of Primerica in the 4th quarter worth about $27,000. Headlands Technologies LLC grew 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 worth $48,000 after purchasing an additional 161 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Primerica in the 1st quarter worth about $64,000. Finally, Golden State Wealth Management LLC grew 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 worth $72,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Buying and Selling at Primerica

In other 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 sale, the chief executive officer owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Primerica Price Performance

Primerica stock traded up $0.34 during mid-day trading on Tuesday, hitting $266.91. 23,744 shares of the company's stock traded hands, compared to its average volume of 168,827. The firm has a 50 day simple moving average of $265.74 and a two-hundred day simple moving average of $269.74. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 13.18 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly 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 return on equity of 32.42% and a net margin of 21.48%.The business had revenue of $796.02 million during the quarter, compared to the consensus estimate of $790.99 million. During the same quarter last year, the firm posted $4.71 EPS. The company's quarterly revenue was up .3% on a year-over-year basis. On average, research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be issued 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 dividend yield of 1.6%. Primerica's dividend payout ratio (DPR) is currently 20.55%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped 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. Morgan Stanley increased their price target on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Finally, Jefferies Financial Group lowered their target price on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.