Primerica, Inc. $PRI Shares Sold by Deutsche Bank AG

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 trimmed its position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 64.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,806 shares of the financial services provider's stock after selling 8,561 shares during the period. Deutsche Bank AG's holdings in Primerica were worth $1,367,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Colonial Trust Co SC bought a new stake in Primerica in the 4th quarter worth $25,000. True Wealth Design LLC bought a new stake in Primerica in the fourth quarter valued at $27,000. Golden State Wealth Management LLC increased its position in shares of Primerica by 105.7% during the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after buying an additional 130 shares during the period. Parallel Advisors LLC boosted its position in Primerica by 26.9% during the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 65 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Primerica by 15.3% during the 1st quarter. TD Private Client Wealth LLC now owns 421 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 56 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Performance

PRI stock traded up $1.35 during midday trading on Tuesday, reaching $267.92. 129,039 shares of the company traded hands, compared to its average volume of 164,169. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 13.24 and a beta of 0.99. The business has a 50 day moving average of $265.96 and a 200-day moving average of $269.72. Primerica, Inc. has a 52-week low of $230.98 and a 52-week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 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 company had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period in the previous year, the firm earned $4.71 earnings per share. Primerica's quarterly revenue was up .3% compared to the same quarter last year. Research analysts anticipate that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

The business also recently declared 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 1.6%. Primerica's dividend payout ratio (DPR) is currently 20.55%.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of Primerica 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 of the company's stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PRI shares. Keefe, Bruyette & Woods raised their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Jefferies Financial Group cut 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, August 11th. Finally, Morgan Stanley lifted their price objective on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. 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 currently has an average 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.