Vanguard Group Inc. Boosts Holdings in Primerica, Inc. (NYSE:PRI)

Key Points

• Vanguard Group Inc. increased its stake in Primerica, owning 10.56% of the company, valued at $994 million after purchasing an additional 37,994 shares in Q1.
• Primerica reported an EPS of $5.46 for Q2, exceeding expectations by $0.28, with a revenue of $796 million, showing a year-over-year increase of 0.3%.
• The company announced a quarterly dividend of $1.04 per share, with a yield of 1.6%, to be paid to shareholders on September 15.

Vanguard Group Inc. grew its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,493,650 shares of the financial services provider's stock after acquiring an additional 37,994 shares during the period. Vanguard Group Inc. owned 10.56% of Primerica worth $994,048,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Colonial Trust Co SC bought a new position in Primerica in the 4th quarter worth about $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica in the 4th quarter worth approximately $27,000. Bessemer Group Inc. lifted its position in shares of Primerica by 182.2% in the 4th quarter. Bessemer Group Inc. now owns 254 shares of the financial services provider's stock worth $69,000 after purchasing an additional 164 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Primerica by 105.7% in 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. Finally, Parallel Advisors LLC lifted its position in shares of Primerica by 26.9% in the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after purchasing an additional 65 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods upped their price target on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Monday. Morgan Stanley increased their target price on shares of Primerica from $274.00 to $296.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Jefferies Financial Group decreased their target price on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $313.57.

Primerica Trading Down 0.6%

Shares of NYSE PRI traded down $1.59 during midday trading on Friday, reaching $261.25. The company had a trading volume of 60,661 shares, compared to its average volume of 170,205. The stock has a market cap of $8.46 billion, a P/E ratio of 12.91 and a beta of 0.99. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The business's 50-day simple moving average is $265.18 and its 200 day simple moving average is $271.35.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings data 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. 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 quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 earnings per share. Analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

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 given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica's dividend payout ratio (DPR) is currently 20.55%.

Insider Buying and Selling

In related news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Primerica Company 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.