Primerica, Inc. $PRI Shares Acquired by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC increased its stake in Primerica, Inc. by 10.1% during the first quarter, acquiring an additional 1,677 shares and owning approximately 0.06% of the company worth $5,181,000.
• CEO Glenn J. Williams sold 2,500 shares of Primerica on August 12, reducing his ownership by 6.43% to 36,392 shares valued at $9,541,982.40.
• Primerica recently announced a quarterly dividend of $1.04 per share, representing a 1.5% yield and a payout ratio of 20.55%.

Magnetar Financial LLC increased its position in Primerica, Inc. (NYSE:PRI - Free Report) by 10.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,209 shares of the financial services provider's stock after purchasing an additional 1,677 shares during the period. Magnetar Financial LLC owned 0.06% of Primerica worth $5,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in Primerica in the 1st quarter valued at about $156,019,000. GAMMA Investing LLC increased 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 valued at $126,132,000 after acquiring an additional 442,170 shares during the period. AQR Capital Management LLC increased its position in Primerica by 254.5% in the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock valued at $31,558,000 after acquiring an additional 83,477 shares during the period. Cubist Systematic Strategies LLC increased its position in 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 acquiring an additional 55,295 shares during the period. Finally, Northern Trust Corp increased its position in Primerica by 15.6% in the 4th quarter. Northern Trust Corp now owns 347,040 shares of the financial services provider's stock valued at $94,194,000 after acquiring an additional 46,935 shares during the period. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PRI shares. Jefferies Financial Group dropped their price target on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. 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 report on Monday, August 11th. Finally, 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 report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Primerica currently has a consensus rating of "Hold" and a consensus target price of $315.29.

Primerica Price Performance

NYSE PRI traded up $2.25 on Wednesday, hitting $269.10. 61,065 shares of the company's stock were exchanged, compared to its average volume of 168,540. The firm's 50-day moving average price is $266.49 and its two-hundred day moving average price is $269.13. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.30 and a beta of 1.00.

Primerica (NYSE:PRI - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.28. The company had revenue of $796.02 million for 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 firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 EPS. On average, research analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 22nd will be issued a $1.04 dividend. The ex-dividend date is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.5%. Primerica's dividend payout ratio is currently 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 stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer owned 36,392 shares in the company, valued at $9,541,982.40. This represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

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.