Intech Investment Management LLC Trims Position in Primerica, Inc. $PRI

Key Points

• Intech Investment Management LLC reduced its holdings in Primerica, Inc. by 21.7% during the first quarter, selling 3,646 shares, now owning 13,124 shares valued at approximately $3.73 million.
• CEO Glenn J. Williams sold 2,500 shares at an average price of $262.20, decreasing his ownership by 6.43% and holding shares valued at nearly $9.54 million post-sale.
• Primerica's recent earnings report indicated an EPS of $5.46, surpassing estimates, and the company declared a quarterly dividend of $1.04 per share, reflecting a 1.5% yield.

Intech Investment Management LLC decreased its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 21.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,124 shares of the financial services provider's stock after selling 3,646 shares during the quarter. Intech Investment Management LLC's holdings in Primerica were worth $3,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRI. True Wealth Design LLC bought a new stake in Primerica during the 4th quarter worth approximately $27,000. Headlands Technologies LLC raised its stake in Primerica by 2,300.0% during the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock worth $48,000 after acquiring an additional 161 shares during the period. Summit Securities Group LLC bought a new stake in Primerica during the 1st quarter worth approximately $64,000. Golden State Wealth Management LLC raised its stake in Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock worth $72,000 after acquiring an additional 130 shares during the period. Finally, Parallel Advisors LLC raised its stake in Primerica by 26.9% during the 1st quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock worth $87,000 after acquiring an additional 65 shares during the period. Institutional investors own 90.88% of the company's stock.

Wall Street Analyst Weigh In

PRI has been the topic of several recent analyst reports. Jefferies Financial Group reduced 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. 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. Finally, Morgan Stanley lifted their price objective on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $315.29.

Primerica Trading Up 0.7%

Shares of PRI traded up $1.85 during trading hours on Thursday, reaching $272.80. 166,168 shares of the company traded hands, compared to its average volume of 171,072. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 13.48 and a beta of 1.00. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91. The stock's fifty day moving average price is $266.53 and its 200 day moving average price is $268.45.

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, beating analysts' consensus estimates of $5.18 by $0.28. The firm had revenue of $796.02 million during 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 revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.71 earnings per share. On average, research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 22nd were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio is 20.55%.

Insider Activity at Primerica

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were 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 represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.

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.