Logan Capital Management Inc. Lowers Holdings in Primerica, Inc. $PRI

Key Points

• Logan Capital Management Inc. reduced its stake in Primerica by 2.7%, now holding 39,865 shares valued at approximately $11.34 million.
• Primerica's CEO, Glenn J. Williams, sold 2,500 shares recently, decreasing his ownership by 6.43% and retaining about $9.54 million in shares.
• The company reported better-than-expected quarterly earnings of $5.46 per share, surpassing estimates and indicating a slight year-over-year revenue increase.

Logan Capital Management Inc. trimmed its position in Primerica, Inc. (NYSE:PRI - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,865 shares of the financial services provider's stock after selling 1,109 shares during the quarter. Logan Capital Management Inc. owned 0.12% of Primerica worth $11,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PRI. Assetmark Inc. lifted its position in shares of Primerica by 17.1% in the 1st quarter. Assetmark Inc. now owns 1,778 shares of the financial services provider's stock worth $506,000 after purchasing an additional 260 shares during the period. Cerity Partners LLC raised its position in shares of Primerica by 21.7% in the 1st quarter. Cerity Partners LLC now owns 5,201 shares of the financial services provider's stock worth $1,480,000 after acquiring an additional 927 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of 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 purchasing an additional 9,245 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Primerica during the first quarter valued at approximately $2,683,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Primerica by 11.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,385 shares of the financial services provider's stock valued at $919,000 after buying an additional 354 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Buying and Selling

In other news, CEO Glenn J. Williams sold 2,500 shares of Primerica stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total transaction of $655,500.00. Following the transaction, the chief executive officer directly owned 36,392 shares of the company's stock, valued at $9,541,982.40. The trade was a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.61% of the company's stock.

Primerica Stock Down 0.0%

Shares of Primerica stock traded down $0.12 on Friday, reaching $274.28. The company's stock had a trading volume of 211,384 shares, compared to its average volume of 162,316. Primerica, Inc. has a 52 week low of $230.98 and a 52 week high of $307.91. The firm's fifty day simple moving average is $266.56 and its two-hundred day simple moving average is $268.87. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 13.55 and a beta of 1.00.

Primerica (NYSE:PRI - Get Free Report) last announced its quarterly 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. Primerica had a net margin of 21.48% and a return on equity of 32.42%. The firm had revenue of $796.02 million for the quarter, compared to the consensus estimate of $790.99 million. During the same quarter last year, the firm posted $4.71 EPS. The business's quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts predict that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.5%. Primerica's payout ratio is presently 20.55%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of 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 boosted their price target on Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group reduced 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. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.