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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HB Wealth Management LLC grew its position in shares of Primerica by 1.9% during the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock worth $594,000 after buying an additional 38 shares in the last quarter. Applied Finance Capital Management LLC grew its stake in Primerica by 5.3% in the first quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock worth $239,000 after purchasing an additional 42 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Primerica by 1.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock worth $881,000 after purchasing an additional 44 shares in the last quarter. Xponance Inc. grew its stake in Primerica by 1.2% in the first quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock worth $1,122,000 after purchasing an additional 47 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Primerica by 15.3% in the first quarter. TD Private Client Wealth LLC now owns 421 shares of the financial services provider's stock worth $120,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Stock Performance

Shares of NYSE PRI traded up $2.87 during trading on Thursday, hitting $272.09. 51,687 shares of the company were exchanged, compared to its average volume of 168,164. The firm has a market capitalization of $8.81 billion, a PE ratio of 13.47 and a beta of 1.00. The company has a fifty day moving average price of $266.60 and a 200-day moving average price of $269.13. 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 released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, beating the consensus estimate 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%. The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.71 EPS. Research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be given 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 1.5%. Primerica's payout ratio is presently 20.55%.

Insider Buying and Selling at Primerica

In related news, CEO Glenn J. Williams sold 2,500 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 36,392 shares in the company, valued at approximately $9,541,982.40. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company's stock.

Analyst Ratings Changes

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

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.