Callan Family Office LLC Sells 1,797 Shares of Primerica, Inc. (NYSE:PRI)

Key Points

• The Callan Family Office LLC reduced its stock holdings in Primerica, Inc. by 35.8%, now owning 3,227 shares valued at $918,000.
• Primerica reported earnings of $5.46 per share, exceeding estimates, with a revenue of $796.02 million for the quarter.
• The company announced a quarterly dividend of $1.04 to be paid on September 15th, representing a 1.6% yield.

Callan Family Office LLC reduced its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 35.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,227 shares of the financial services provider's stock after selling 1,797 shares during the period. Callan Family Office LLC's holdings in Primerica were worth $918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC purchased a new stake in Primerica in the 4th quarter worth approximately $25,000. True Wealth Design LLC bought a new stake in shares of Primerica in the 4th quarter worth approximately $27,000. Headlands Technologies LLC raised its position in 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 period. Golden State Wealth Management LLC raised its stake in shares of Primerica by 105.7% during the first 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, Bessemer Group Inc. raised its position in Primerica by 182.2% during the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 164 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Primerica Price Performance

Shares of PRI stock traded down $1.48 during trading hours on Friday, reaching $261.36. 133,668 shares of the company traded hands, compared to its average volume of 170,728. The firm has a 50-day moving average price of $264.98 and a 200 day moving average price of $271.16. The company has a market cap of $8.47 billion, a P/E ratio of 12.91 and a beta of 0.99. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly earnings data 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. 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 the consensus estimate of $790.99 million. During the same period last year, the firm earned $4.71 EPS. The company's revenue was up .3% on a year-over-year basis. Sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

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

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer owned 36,392 shares in the company, valued at approximately $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group reduced their target price on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a report on Monday. Keefe, Bruyette & Woods increased their target price on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Morgan Stanley upped their price target on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Primerica presently has a consensus rating of "Hold" and a consensus target price of $313.57.

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.