Deutsche Bank AG Has $1.37 Million Position in Primerica, Inc. $PRI

Key Points

• Deutsche Bank AG reduced its holdings in Primerica, Inc. by 64.0% in the first quarter, selling 8,561 shares and retaining a total of 4,806 shares valued at approximately $1.37 million.
• Primerica reported $5.46 earnings per share for the last quarter, surpassing analysts' estimates of $5.18, and achieved a revenue of $796.02 million.
• The firm recently announced a quarterly dividend of $1.04, with an annualized yield of 1.5% and a payout ratio of 20.55%.

Deutsche Bank AG lowered its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 64.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,806 shares of the financial services provider's stock after selling 8,561 shares during the quarter. Deutsche Bank AG's holdings in Primerica were worth $1,367,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in Primerica by 17.1% in the first quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider's stock valued at $506,000 after buying an additional 260 shares in the last quarter. Cerity Partners LLC lifted its stake in Primerica by 21.7% in the first quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider's stock valued at $1,480,000 after buying an additional 927 shares in the last quarter. Two Sigma Securities LLC bought a new position in Primerica in the fourth quarter valued at approximately $391,000. Allianz Asset Management GmbH bought a new stake in shares of Primerica in the first quarter worth $2,683,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Primerica by 11.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider's stock worth $919,000 after purchasing an additional 354 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.20, for a total value of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares in the company, valued at $9,541,982.40. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRI. Morgan Stanley boosted 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. Keefe, Bruyette & Woods boosted 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. Finally, Jefferies Financial Group cut their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Primerica presently has a consensus rating of "Hold" and an average price target of $315.29.

Primerica Price Performance

NYSE PRI traded up $0.62 on Friday, hitting $269.11. 157,205 shares of the stock were exchanged, compared to its average volume of 157,668. The business's fifty day moving average is $266.49 and its 200 day moving average is $269.40. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91. The company has a market capitalization of $8.72 billion, a PE ratio of 13.30 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly 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. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. During the same period in the prior year, the firm posted $4.71 earnings per share. The company's quarterly revenue was up .3% compared to the same quarter last year. Analysts predict that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 22nd will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 22nd. Primerica's payout ratio is currently 20.55%.

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.