Price T Rowe Associates Inc. MD Has $40.96 Million Holdings in Primerica, Inc. $PRI

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Primerica, Inc. by 2.4% in Q1, owning approximately $40.96 million worth of shares.
• Primerica reported $5.46 earnings per share for the last quarter, exceeding analysts' estimates, with a revenue of $796.02 million.
• The company announced a quarterly dividend of $1.04 per share, representing an annualized dividend of $4.16 with a yield of 1.5%.

Price T Rowe Associates Inc. MD raised its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 2.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 143,950 shares of the financial services provider's stock after purchasing an additional 3,335 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.43% of Primerica worth $40,960,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mariner LLC increased its position in Primerica by 1.4% during the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after purchasing an additional 36 shares during the period. HB Wealth Management LLC grew its position in shares of Primerica by 1.9% during the 1st 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 during the period. Applied Finance Capital Management LLC grew its position in shares of Primerica by 5.3% during the 1st quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock worth $239,000 after buying an additional 42 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Primerica by 1.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock worth $881,000 after buying an additional 44 shares during the period. Finally, Xponance Inc. grew its position in shares of Primerica by 1.2% during the 1st quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock worth $1,122,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Stock Up 0.7%

Shares of PRI opened at $269.97 on Thursday. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The business's fifty day moving average is $266.16 and its 200 day moving average is $269.73. The stock has a market cap of $8.74 billion, a P/E ratio of 13.34 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share (EPS) 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 analysts' expectations of $790.99 million. During the same period last year, the business earned $4.71 EPS. Primerica's quarterly revenue was up .3% compared to the same quarter last year. On average, analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Dividend Announcement

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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 22nd. Primerica's dividend payout ratio (DPR) is currently 20.55%.

Insiders Place Their Bets

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction 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 transaction, the chief executive officer directly owned 36,392 shares in the company, 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. Company insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

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

About Primerica

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.

Want to see what other hedge funds are holding PRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primerica, Inc. (NYSE:PRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.