Primerica, Inc. $PRI Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Primerica, Inc. by 3.3% in the 1st quarter, holding 147,366 shares valued at approximately $41.93 million as of its latest SEC filing.
• Primerica reported earnings of $5.46 per share for the last quarter, exceeding analysts' estimates, with quarterly revenue of $796.02 million.
• The company declared a quarterly dividend of $1.04 per share, set to be paid on September 15, representing an annualized yield of 1.5%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,366 shares of the financial services provider's stock after purchasing an additional 4,687 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.45% of Primerica worth $41,930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PRI. Captrust Financial Advisors raised its position in shares of Primerica by 9.9% during the 4th quarter. Captrust Financial Advisors now owns 1,553 shares of the financial services provider's stock worth $422,000 after purchasing an additional 140 shares during the last quarter. Cetera Investment Advisers raised its holdings in Primerica by 17.2% in the 4th quarter. Cetera Investment Advisers now owns 1,829 shares of the financial services provider's stock valued at $497,000 after acquiring an additional 268 shares during the last quarter. Deutsche Bank AG raised its holdings in Primerica by 224.3% in the 4th quarter. Deutsche Bank AG now owns 13,367 shares of the financial services provider's stock valued at $3,628,000 after acquiring an additional 9,245 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Primerica by 24.0% in the 4th quarter. Lazard Asset Management LLC now owns 5,068 shares of the financial services provider's stock valued at $1,375,000 after acquiring an additional 981 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in Primerica in the 4th quarter valued at about $1,202,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Primerica Stock Performance

NYSE:PRI opened at $274.28 on Monday. The stock has a market capitalization of $8.88 billion, a P/E ratio of 13.55 and a beta of 1.00. The company has a 50 day moving average price of $266.56 and a 200 day moving average price of $268.69. 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 posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping analysts' consensus estimates of $5.18 by $0.28. The firm had revenue of $796.02 million during the quarter, compared to analysts' expectations of $790.99 million. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company posted $4.71 EPS. Research analysts forecast that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica Announces Dividend

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

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 36,392 shares of the company's stock, valued at $9,541,982.40. This trade represents a 6.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of 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 price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating for the company in a report on Monday, August 11th. Finally, Morgan Stanley increased their price objective on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $315.29.

Primerica Company 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.

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