Hsbc Holdings PLC Decreases Position in Primerica, Inc. $PRI

Key Points

• Hsbc Holdings PLC reduced its stake in Primerica, Inc. by 46.4% in the first quarter, now owning 2,287 shares valued at $651,000.
• CEO Glenn J. Williams sold 2,500 shares of Primerica stock for approximately $655,500, decreasing his ownership by 6.43%.
• Primerica announced a quarterly dividend of $1.04 per share, with a yield of 1.5%, to be paid on September 15th.

Hsbc Holdings PLC lessened its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 46.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,287 shares of the financial services provider's stock after selling 1,978 shares during the quarter. Hsbc Holdings PLC's holdings in Primerica were worth $651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Primerica in the 1st quarter worth $156,019,000. GAMMA Investing LLC boosted its position in Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after purchasing an additional 442,170 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Primerica by 2,508.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock valued at $15,606,000 after purchasing an additional 55,295 shares in the last quarter. Northern Trust Corp raised its stake in shares of Primerica by 15.6% during the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock worth $94,194,000 after buying an additional 46,935 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Primerica by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider's stock worth $994,048,000 after buying an additional 37,994 shares during the period. Institutional investors own 90.88% of the company's stock.

Insider Activity at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated 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 of the company's stock, valued at $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Jefferies Financial Group lowered their target price on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on 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 an average price target of $315.29.

Primerica Trading Up 1.0%

Shares of NYSE:PRI traded up $2.72 on Thursday, hitting $271.94. The company had a trading volume of 45,212 shares, compared to its average volume of 168,125. The company has a market cap of $8.81 billion, a PE ratio of 13.43 and a beta of 1.00. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The business has a 50 day moving average of $266.60 and a 200 day moving average of $269.13.

Primerica (NYSE:PRI - Get Free Report) last announced 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 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%. The company's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 earnings per share. As a group, equities 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 paid a dividend of $1.04 per share. 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 1.5%. 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.