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

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 about 0.97% of Primerica worth $91,549,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in Primerica by 17.1% during the first quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider's stock worth $506,000 after buying an additional 260 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Primerica by 21.7% in the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider's stock valued at $1,480,000 after acquiring an additional 927 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Primerica in the 4th quarter valued at approximately $391,000. Deutsche Bank AG lifted its position in shares of Primerica by 224.3% in the 4th quarter. Deutsche Bank AG now owns 13,367 shares of the financial services provider's stock valued at $3,628,000 after acquiring an additional 9,245 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Primerica in the 1st quarter valued at approximately $2,683,000. 90.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Jefferies Financial Group reduced their price target on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Finally, Morgan Stanley upped their price target on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $313.57.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm's 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. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company's stock.

Primerica Stock Performance

Shares of Primerica stock traded down $1.48 during midday trading on Friday, reaching $261.36. 133,668 shares of the company's stock traded hands, compared to its average volume of 163,494. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 12.91 and a beta of 0.99. The company's 50 day simple moving average is $264.98 and its 200 day simple moving average is $271.16. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released 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. The business had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. Primerica's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 EPS. As a group, equities research 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. Stockholders of record on Friday, August 22nd will be issued 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 dividend payout ratio (DPR) is currently 20.55%.

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.