BI Asset Management Fondsmaeglerselskab A S Reduces Stock Position in 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 position in Primerica, Inc. (NYSE:PRI - Free Report) by 36.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 about 0.06% of Primerica worth $5,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Primerica by 43.4% during the fourth quarter. Barclays PLC now owns 29,347 shares of the financial services provider's stock valued at $7,964,000 after buying an additional 8,876 shares during the period. Mariner LLC boosted its holdings in shares of Primerica by 1.4% during the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after purchasing an additional 36 shares during the last quarter. Marshall Wace LLP acquired a new position in Primerica in the fourth quarter valued at $1,230,000. Canada Pension Plan Investment Board purchased a new position in Primerica during the fourth quarter worth about $1,981,000. Finally, MetLife Investment Management LLC boosted its stake in Primerica by 7.5% in the 4th quarter. MetLife Investment Management LLC now owns 18,818 shares of the financial services provider's stock worth $5,108,000 after buying an additional 1,321 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Performance

Shares of NYSE:PRI opened at $267.3640 on Thursday. The stock has a 50-day simple moving average of $265.29 and a 200-day simple moving average of $270.63. The stock has a market capitalization of $8.66 billion, a P/E ratio of 13.21 and a beta of 0.99. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91.

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 for the quarter, beating analysts' consensus estimates of $5.18 by $0.28. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm had revenue of $796.02 million for the quarter, compared to analysts' expectations of $790.99 million. During the same period in the previous year, the company posted $4.71 earnings per share. Primerica's revenue was up .3% compared to the same quarter last year. Analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 22nd. Primerica's dividend payout ratio is 20.55%.

Insider Transactions at Primerica

In related 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PRI shares. Jefferies Financial Group dropped their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Keefe, Bruyette & Woods boosted their target price on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Finally, Morgan Stanley upped their price target on shares of Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $315.29.

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.

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