Quantum Capital Management LLC NJ Sells 4,588 Shares of Primerica, Inc. $PRI

Key Points

• Quantum Capital Management LLC NJ reduced its holdings in Primerica, Inc. by 1.7%, making it the 6th largest holding in their portfolio, worth approximately $74 million as of the latest SEC filing.
• CEO Glenn J. Williams sold 2,500 shares of Primerica for $655,500, decreasing his ownership by 6.43% but still retaining shares valued at around $9.5 million.
• Primerica reported earnings of $5.46 per share for the latest quarter, surpassing expectations, and announced a quarterly dividend of $1.04, translating to an annual yield of 1.6%.

Quantum Capital Management LLC NJ cut its stake in Primerica, Inc. (NYSE:PRI - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,323 shares of the financial services provider's stock after selling 4,588 shares during the period. Primerica makes up about 7.7% of Quantum Capital Management LLC NJ's holdings, making the stock its 6th largest holding. Quantum Capital Management LLC NJ owned approximately 0.79% of Primerica worth $74,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Mariner LLC grew its position in shares of Primerica by 1.4% in the fourth quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock valued at $709,000 after purchasing an additional 36 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Primerica by 1.9% in the first quarter. HB Wealth Management LLC now owns 2,088 shares of the financial services provider's stock valued at $594,000 after purchasing an additional 38 shares in the last quarter. Applied Finance Capital Management LLC grew its position in shares of Primerica by 5.3% in the first quarter. Applied Finance Capital Management LLC now owns 839 shares of the financial services provider's stock valued at $239,000 after purchasing an additional 42 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Primerica by 1.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,095 shares of the financial services provider's stock valued at $881,000 after purchasing an additional 44 shares in the last quarter. Finally, Xponance Inc. grew its position in shares of Primerica by 1.2% in the first quarter. Xponance Inc. now owns 3,945 shares of the financial services provider's stock valued at $1,122,000 after purchasing an additional 47 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Primerica

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PRI shares. Keefe, Bruyette & Woods upped their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Jefferies Financial Group lowered their price objective on 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 increased their price objective on Primerica from $292.00 to $308.00 and gave the stock 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $315.29.

Primerica Stock Down 0.6%

NYSE:PRI traded down $1.61 during trading hours on Monday, reaching $268.24. 25,574 shares of the stock were exchanged, compared to its average volume of 169,258. Primerica, Inc. has a twelve month low of $230.98 and a twelve month high of $307.91. The business has a 50-day moving average of $265.62 and a two-hundred day moving average of $269.95. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 13.27 and a beta of 0.99.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results 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 return on equity of 32.42% and a net margin of 21.48%.The business had revenue of $796.02 million during the quarter, compared to analyst estimates of $790.99 million. During the same period last year, the business posted $4.71 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. On average, research analysts forecast that Primerica, Inc. will post 20.6 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 22nd will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 22nd. Primerica's dividend payout ratio (DPR) is currently 20.55%.

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.