Intech Investment Management LLC Decreases Stake 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 position in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 21.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 quarter.

Several other large investors have also added to or reduced their stakes in PRI. Nuveen LLC bought a new position in Primerica in the 1st quarter worth about $156,019,000. GAMMA Investing LLC boosted its stake in Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after purchasing an additional 442,170 shares during the period. AQR Capital Management LLC boosted its stake in Primerica by 171.8% in the 1st quarter. AQR Capital Management LLC now owns 315,986 shares of the financial services provider's stock worth $89,907,000 after purchasing an additional 199,715 shares during the period. Vanguard Group Inc. boosted its stake in Primerica by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,493,650 shares of the financial services provider's stock worth $994,048,000 after purchasing an additional 37,994 shares during the period. Finally, Westfield Capital Management Co. LP boosted its stake in Primerica by 15.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 276,225 shares of the financial services provider's stock worth $78,594,000 after purchasing an additional 36,095 shares during the period. Institutional investors own 90.88% of the company's stock.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company's stock.

Primerica Price Performance

Primerica stock traded up $2.98 during trading hours on Wednesday, reaching $270.63. The company had a trading volume of 69,127 shares, compared to its average volume of 170,692. The company has a 50-day moving average price of $266.40 and a 200 day moving average price of $268.55. The firm has a market cap of $8.77 billion, a price-to-earnings ratio of 13.37 and a beta of 1.00. Primerica, Inc. has a 12-month low of $230.98 and a 12-month high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.28. The company had revenue of $796.02 million for the quarter, compared to analysts' expectations of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.71 earnings per share. As a group, research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

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

Analysts Set New Price Targets

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