Ieq Capital LLC Acquires 5,759 Shares of Primerica, Inc. $PRI

Key Points

• Ieq Capital LLC increased its holdings in Primerica, Inc. by 108.5% in the first quarter, acquiring an additional 5,759 shares for a total of $3,150,000 in value.
• Primerica's CEO, Glenn J. Williams, sold 2,500 shares at a price of $262.20 each, reducing his ownership by 6.43% to approximately $9.54 million.
• The company announced a quarterly dividend of $1.04 per share, with an ex-dividend date set for August 22nd, representing an annualized yield of 1.5%.

Ieq Capital LLC lifted its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 108.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,069 shares of the financial services provider's stock after purchasing an additional 5,759 shares during the period. Ieq Capital LLC's holdings in Primerica were worth $3,150,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Colonial Trust Co SC bought a new position in Primerica during the fourth quarter valued at about $25,000. True Wealth Design LLC bought a new position in Primerica during the fourth quarter valued at about $27,000. Headlands Technologies LLC increased its stake in Primerica by 2,300.0% during the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 161 shares during the period. Summit Securities Group LLC bought a new position in Primerica during the first quarter valued at about $64,000. Finally, Golden State Wealth Management LLC increased its stake in 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 period. Institutional investors own 90.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

Primerica Price Performance

Shares of PRI traded down $0.23 on Friday, hitting $273.53. The company's stock had a trading volume of 177,732 shares, compared to its average volume of 168,708. The company has a market capitalization of $8.86 billion, a PE ratio of 13.51 and a beta of 1.00. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The company has a 50 day moving average price of $266.75 and a 200 day moving average price of $269.07.

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 for the quarter, topping the consensus estimate of $5.18 by $0.28. The firm had revenue of $796.02 million during the quarter, compared to analysts' expectations of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The company's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 EPS. On average, equities analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be given a $1.04 dividend. The ex-dividend date is Friday, August 22nd. This represents a $4.16 annualized dividend and a dividend yield of 1.5%. Primerica's payout ratio is currently 20.55%.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the 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 transaction, the chief executive officer owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company's stock.

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.