Parkwood LLC Sells 12,986 Shares of Primerica, Inc. $PRI

Key Points

• Parkwood LLC reduced its stake in Primerica, Inc. by 32.4%, now holding 27,045 shares valued at approximately $7.7 million.
• Primerica reported earnings of $5.46 per share for the last quarter, exceeding expectations and showing a slight revenue increase of 0.3% year over year.
• The company announced a quarterly dividend of $1.04, representing an annualized yield of 1.5%, with a payout ratio of 20.55%.

Parkwood LLC cut its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 32.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,045 shares of the financial services provider's stock after selling 12,986 shares during the period. Parkwood LLC owned 0.08% of Primerica worth $7,695,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. HB Wealth Management LLC raised 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 valued at $594,000 after buying an additional 38 shares during the last quarter. Applied Finance Capital Management LLC raised its position in shares of Primerica by 5.3% during the first quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock valued at $239,000 after buying an additional 42 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Primerica by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after buying an additional 44 shares during the last quarter. Xponance Inc. raised its position in shares of Primerica by 1.2% during the first quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock valued at $1,122,000 after buying an additional 47 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of Primerica by 15.3% during the first quarter. TD Private Client Wealth LLC now owns 421 shares of the financial services provider's stock valued at $120,000 after buying an additional 56 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm'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 transaction of $655,500.00. Following the completion of the sale, the chief executive officer directly owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.61% of the company's stock.

Primerica Price Performance

Shares of Primerica stock traded down $3.24 on Tuesday, reaching $271.66. The company had a trading volume of 172,593 shares, compared to its average volume of 159,049. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 13.42 and a beta of 1.00. The firm's 50-day moving average price is $266.76 and its two-hundred day moving average price is $268.88. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 EPS for the quarter, topping analysts' consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 EPS. As a group, analysts anticipate that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 payout ratio is 20.55%.

Analyst Ratings Changes

PRI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Morgan Stanley lifted their price objective on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Finally, Jefferies Financial Group reduced their price objective on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research note on Monday, August 11th. Two 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, the stock currently has a consensus rating of "Hold" and an average target price 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.