Primerica, Inc. $PRI Shares Sold by Raymond James Financial Inc.

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. lessened its holdings in Primerica, Inc. (NYSE:PRI - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,798 shares of the financial services provider's stock after selling 1,174 shares during the quarter. Raymond James Financial Inc. owned 0.38% of Primerica worth $35,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC purchased a new position in shares of Primerica in the fourth quarter valued at about $25,000. True Wealth Design LLC purchased a new position in shares of Primerica in the fourth quarter valued at about $27,000. Headlands Technologies LLC increased its position in shares of Primerica by 2,300.0% in the first quarter. Headlands Technologies LLC now owns 168 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 161 shares during the period. Golden State Wealth Management LLC increased its position in shares of Primerica by 105.7% in the first quarter. Golden State Wealth Management LLC now owns 253 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 130 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Primerica by 26.9% in the first quarter. Parallel Advisors LLC now owns 307 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Primerica Stock Performance

Shares of PRI traded up $0.62 during mid-day trading on Friday, reaching $269.11. The stock had a trading volume of 157,205 shares, compared to its average volume of 157,668. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 13.30 and a beta of 0.99. Primerica, Inc. has a 12 month low of $230.98 and a 12 month high of $307.91. The business has a fifty day moving average of $266.49 and a 200 day moving average of $269.40.

Primerica (NYSE:PRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $5.46 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $790.99 million. During the same quarter in the prior year, the business earned $4.71 earnings per share. Primerica's revenue for the quarter 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 business also recently announced 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 dividend yield of 1.5%. Primerica's dividend payout ratio is currently 20.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Primerica from $293.00 to $283.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Morgan Stanley lifted their target price on shares of Primerica from $292.00 to $308.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $315.29.

Insider Buying and Selling

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by company insiders.

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.