Charles Schwab Investment Management Inc. Sells 5,860 Shares of Primerica, Inc. (NYSE:PRI)

Charles Schwab Investment Management Inc. trimmed its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,755 shares of the financial services provider's stock after selling 5,860 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.97% of Primerica worth $91,549,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Colonial Trust Co SC acquired a new position in shares of Primerica in the 4th quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Primerica in the 4th quarter worth about $27,000. Bessemer Group Inc. raised its holdings in Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock worth $69,000 after purchasing an additional 164 shares during the period. Golden State Wealth Management LLC increased its stake in 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 in the last quarter. Finally, Parallel Advisors LLC increased its stake in 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 in the last quarter. 90.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Primerica 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 transaction, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PRI shares. Morgan Stanley upped their price target on Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods increased their price objective on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group decreased their price target on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research note on Monday, August 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and a consensus price target of $313.57.

Primerica Trading Down 0.6%

PRI stock traded down $1.48 during trading on Friday, reaching $261.36. The stock had a trading volume of 133,668 shares, compared to its average volume of 163,494. The company has a market capitalization of $8.47 billion, a P/E ratio of 12.91 and a beta of 0.99. The firm has a fifty day moving average price of $264.98 and a 200 day moving average price of $271.01. 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 posted its quarterly earnings data 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. The business had revenue of $796.02 million during the quarter, compared to analysts' expectations of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The business's revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $4.71 earnings per share. Sell-side analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

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