Fiduciary Management Inc. WI Raises Stock Position in Primerica, Inc. $PRI

Key Points

• Fiduciary Management Inc. WI has increased its stake in Primerica, Inc. by 2.8%, owning a total of 490,923 shares valued at approximately $139.68 million.
• CEO Glenn J. Williams sold 2,500 shares at $262.20 each, decreasing his ownership by 6.43%, while insiders overall hold 0.61% of the company.
• Primerica has recently announced a quarterly dividend of $1.04 per share, resulting in an annualized yield of 1.6% and a dividend payout ratio of 20.55%.

Fiduciary Management Inc. WI lifted its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 490,923 shares of the financial services provider's stock after acquiring an additional 13,402 shares during the period. Fiduciary Management Inc. WI owned approximately 1.48% of Primerica worth $139,682,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PRI. Vanguard Group Inc. boosted its stake in Primerica by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider's stock worth $994,048,000 after purchasing an additional 37,994 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Primerica by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider's stock worth $372,740,000 after buying an additional 21,546 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Primerica by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider's stock worth $173,963,000 after buying an additional 16,350 shares during the period. Nuveen LLC purchased a new stake in shares of Primerica during the first quarter valued at $156,019,000. Finally, GAMMA Investing LLC increased its position in shares of Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock valued at $126,132,000 after acquiring an additional 442,170 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction dated 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 directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Primerica Trading Up 1.0%

PRI traded up $2.70 on Wednesday, reaching $270.69. The stock had a trading volume of 52,492 shares, compared to its average volume of 168,745. The business's 50-day moving average price is $265.96 and its two-hundred day moving average price is $269.72. The company has a market cap of $8.77 billion, a P/E ratio of 13.37 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 issued 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 firm had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. Primerica's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $4.71 EPS. As a group, analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 annualized dividend and a yield of 1.5%. Primerica's dividend payout ratio (DPR) is 20.55%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley boosted their price target on Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Jefferies Financial Group cut their price target on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $315.29.

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.