Raymond James Financial Inc. Has $35.51 Million Stock Holdings in Primerica, Inc. $PRI

Key Points

• Raymond James Financial Inc. reduced its stake in Primerica, Inc. by 0.9%, owning 124,798 shares valued at approximately $35.5 million at the end of the last quarter.
• Primerica reported $5.46 earnings per share, exceeding analysts' expectations of $5.18, alongside a revenue of $796 million for the latest quarter.
• The company announced a quarterly dividend of $1.04 per share, representing an annualized dividend yield of 1.5%.

Raymond James Financial Inc. decreased its holdings in shares of Primerica, Inc. (NYSE:PRI - Free Report) by 0.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 124,798 shares of the financial services provider's stock after selling 1,174 shares during the period. Raymond James Financial Inc. owned 0.38% of Primerica worth $35,509,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PRI. Mariner LLC increased its holdings in Primerica by 1.4% in the 4th quarter. Mariner LLC now owns 2,611 shares of the financial services provider's stock worth $709,000 after buying an additional 36 shares during the period. Marshall Wace LLP acquired a new position in Primerica in the 4th quarter worth approximately $1,230,000. Stifel Financial Corp increased its holdings in Primerica by 0.5% in the 4th quarter. Stifel Financial Corp now owns 64,283 shares of the financial services provider's stock worth $17,448,000 after buying an additional 299 shares during the period. Hsbc Holdings PLC increased its position in shares of Primerica by 272.2% during the fourth quarter. Hsbc Holdings PLC now owns 4,265 shares of the financial services provider's stock worth $1,155,000 after purchasing an additional 3,119 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its stake in Primerica by 18.5% during the fourth quarter. Pinebridge Investments L.P. now owns 17,729 shares of the financial services provider's stock worth $4,812,000 after buying an additional 2,770 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Glenn J. Williams sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.20, for a total value of $655,500.00. Following the sale, the chief executive officer directly owned 36,392 shares of the company's stock, valued at approximately $9,541,982.40. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PRI has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of 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 lifted 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 lifted 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 equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $315.29.

Primerica Stock Up 0.5%

Shares of NYSE:PRI traded up $1.35 during trading on Tuesday, reaching $267.92. The stock had a trading volume of 129,039 shares, compared to its average volume of 164,169. Primerica, Inc. has a fifty-two week low of $230.98 and a fifty-two week high of $307.91. The business has a fifty day moving average price of $265.96 and a 200-day moving average price of $269.72. The stock has a market cap of $8.68 billion, a P/E ratio of 13.24 and a beta of 0.99.

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 (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 company had revenue of $796.02 million for the quarter, compared to analyst estimates of $790.99 million. During the same quarter last year, the firm posted $4.71 earnings per share. The business's quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Announces Dividend

The company 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 of this dividend is Friday, August 22nd. This represents a $4.16 dividend on an annualized basis and a yield of 1.6%. Primerica's dividend payout ratio (DPR) is presently 20.55%.

Primerica 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.