Academy Capital Management Sells 3,995 Shares of Primerica, Inc. $PRI

Key Points

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Academy Capital Management decreased its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,815 shares of the financial services provider's stock after selling 3,995 shares during the quarter. Primerica accounts for approximately 6.7% of Academy Capital Management's holdings, making the stock its 7th largest position. Academy Capital Management owned approximately 0.41% of Primerica worth $38,643,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Primerica by 1.1% in the first 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 in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Primerica by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 1,310,019 shares of the financial services provider's stock valued at $372,740,000 after buying an additional 21,546 shares during the period. Dimensional Fund Advisors LP boosted its stake in Primerica by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 611,437 shares of the financial services provider's stock valued at $173,963,000 after buying an additional 16,350 shares in the last quarter. Nuveen LLC bought a new position in Primerica during the first quarter valued at about $156,019,000. Finally, GAMMA Investing LLC boosted its stake in Primerica by 39,199.5% during the first quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock valued at $126,132,000 after buying an additional 442,170 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Insider Transactions at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

PRI has been the subject of several research reports. Jefferies Financial Group decreased their target price on Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a research note on Monday, August 11th. Keefe, Bruyette & Woods raised their target price on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Finally, Morgan Stanley raised their target price on Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $315.29.

Primerica Stock Performance

Shares of NYSE PRI traded up $4.8760 during mid-day trading on Friday, reaching $269.9860. 144,979 shares of the company traded hands, compared to its average volume of 163,886. The stock has a market cap of $8.74 billion, a PE ratio of 13.34 and a beta of 0.99. The company's fifty day moving average is $265.62 and its two-hundred day moving average is $270.31. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91.

Primerica (NYSE:PRI - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $790.99 million. Primerica had a return on equity of 32.42% and a net margin of 21.48%.The company's revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $4.71 EPS. Research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.5%. Primerica's dividend payout ratio (DPR) is 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.