Public Sector Pension Investment Board Invests $9.23 Million in Primerica, Inc. $PRI

Key Points

• The Public Sector Pension Investment Board acquired 32,452 shares of Primerica, Inc., valued at approximately $9.23 million, bringing their ownership to about 0.10% of the company.
• Primerica reported a quarterly earnings per share (EPS) of $5.46, exceeding the consensus estimate of $5.18, with a revenue increase of 0.3% year-over-year.
• The company declared a quarterly dividend of $1.04 per share, set to be paid on September 15, with an annualized dividend yield of 1.6%.

Public Sector Pension Investment Board acquired a new stake in shares of Primerica, Inc. (NYSE:PRI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 32,452 shares of the financial services provider's stock, valued at approximately $9,234,000. Public Sector Pension Investment Board owned approximately 0.10% of Primerica as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of Primerica in the 1st quarter worth approximately $156,019,000. GAMMA Investing LLC boosted its position in shares of Primerica by 39,199.5% in the 1st quarter. GAMMA Investing LLC now owns 443,298 shares of the financial services provider's stock worth $126,132,000 after purchasing an additional 442,170 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Primerica in the 4th quarter worth approximately $34,191,000. AQR Capital Management LLC boosted its position in shares of Primerica by 254.5% in the 4th quarter. AQR Capital Management LLC now owns 116,271 shares of the financial services provider's stock worth $31,558,000 after purchasing an additional 83,477 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Primerica by 2,508.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 57,499 shares of the financial services provider's stock worth $15,606,000 after purchasing an additional 55,295 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on PRI shares. Morgan Stanley boosted their price target on Primerica from $292.00 to $308.00 and gave the stock an "equal weight" rating in a research report on Monday. Jefferies Financial Group dropped their price target on Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Primerica from $315.00 to $320.00 and gave the stock a "market perform" rating in a report on Monday, August 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $315.29.

Primerica Price Performance

NYSE PRI traded down $0.68 during mid-day trading on Monday, reaching $261.00. The stock had a trading volume of 52,966 shares, compared to its average volume of 169,926. Primerica, Inc. has a 1 year low of $230.98 and a 1 year high of $307.91. The stock has a market cap of $8.45 billion, a PE ratio of 12.90 and a beta of 0.99. The company has a fifty day moving average price of $264.98 and a 200 day moving average price of $270.87.

Primerica (NYSE:PRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.28. The firm had revenue of $796.02 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 EPS. As a group, equities research analysts expect that Primerica, Inc. will post 20.6 earnings per share for the current year.

Primerica Announces Dividend

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 issued 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 of this dividend is Friday, August 22nd. Primerica's dividend payout ratio is presently 20.55%.

Insider Buying and Selling at Primerica

In other news, CEO Glenn J. Williams sold 2,500 shares of the 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 transaction, the chief executive officer directly owned 36,392 shares of the company's stock, valued at $9,541,982.40. This represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by 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.