OMERS ADMINISTRATION Corp Acquires Shares of 4,900 Primerica, Inc. $PRI

Key Points

• OMERS ADMINISTRATION Corp has purchased a new stake in Primerica, Inc., acquiring 4,900 shares valued at approximately $1.39 million during the first quarter.
• Primerica announced a quarterly dividend of $1.04 per share, set to be paid on September 15th, with an annualized dividend yield of 1.5%.
• Research analysts have mixed ratings on Primerica, with a consensus rating of "Hold" and a price target average of $315.29 following various adjustments by different firms.

OMERS ADMINISTRATION Corp bought a new position in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,900 shares of the financial services provider's stock, valued at approximately $1,394,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Co SC acquired a new position in Primerica in the 4th quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Primerica in the 4th quarter valued at about $27,000. Headlands Technologies LLC increased its position in Primerica by 2,300.0% during the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after purchasing an additional 161 shares during the period. Summit Securities Group LLC acquired a new position in Primerica during the 1st quarter worth approximately $64,000. Finally, Golden State Wealth Management LLC increased its position in Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Trading Up 1.6%

Shares of Primerica stock traded up $4.28 during trading hours on Thursday, reaching $273.50. 137,459 shares of the company's stock were exchanged, compared to its average volume of 168,694. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 13.51 and a beta of 1.00. The company has a fifty day moving average of $266.60 and a 200-day moving average of $269.13.

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, topping analysts' consensus estimates of $5.18 by $0.28. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The company had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. During the same quarter in the prior year, the company posted $4.71 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

The company also recently announced 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 yield of 1.5%. Primerica's dividend payout ratio (DPR) is presently 20.55%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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