Primerica, Inc. $PRI Shares Sold by Quantum Capital Management LLC NJ

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 reduced its stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 260,323 shares of the financial services provider's stock after selling 4,588 shares during the quarter. Primerica accounts for approximately 7.7% of Quantum Capital Management LLC NJ's holdings, making the stock its 6th largest holding. Quantum Capital Management LLC NJ owned about 0.79% of Primerica worth $74,070,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PRI. Colonial Trust Co SC purchased a new stake in shares of Primerica during the 4th quarter valued at about $25,000. True Wealth Design LLC purchased a new stake in shares of Primerica during the 4th quarter valued at about $27,000. Headlands Technologies LLC raised its holdings in shares of Primerica by 2,300.0% during the 1st quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after buying an additional 161 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Primerica during the 1st quarter valued at about $64,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Primerica by 105.7% during the 1st quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after buying an additional 130 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Primerica Stock Up 1.8%

Shares of PRI traded up $4.8760 during mid-day trading on Friday, hitting $269.9860. The stock had a trading volume of 144,979 shares, compared to its average volume of 163,886. The company 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 simple moving average is $265.62 and its two-hundred day simple 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 issued its 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. The company had revenue of $796.02 million during 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 business's revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 EPS. Equities analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PRI shares. 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 note on Monday, August 11th. Keefe, Bruyette & Woods raised their price objective 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 price objective 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 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, Primerica presently has an average rating of "Hold" and an average price target of $315.29.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of the business's stock in a transaction on 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 transaction, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

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.